[Skip to content]

Sign up for our daily newsletter
The Actuary The magazine of the Institute & Faculty of Actuaries

75% of insurers now offering HIV life assurance

It has been found that 75% of UK insurers are now offering some form of HIV life assurance according to findings from Unusual Risks’ annual HIV Insurance Survey 2016 released today on World AIDS Day.

World AIDS Day ©Shutterstock
World AIDS Day ©Shutterstock

This latest figure shows a significant increase from the earliest survey result in 2011, which indicated only 50% of insurance providers were offering the life assurance.

This comes as Public Health England (PHE) announced today that they estimate there are 101,200 living with HIV in the UK, 13,500 of which are undiagnosed.

Unusual Risks lead financial adviser, Chris Morgan, said: “We are delighted to see that 75% of companies are now offering some form of Life Assurance to HIV positive people.

“We are greatly encouraged that this figure continues to improve each year.

“Having more life insurance products available to HIV positive people is obviously a good thing, because this will lead to improved terms and premiums in the future.”

Another recent survey by the HIV life assurance advisors established that 33% of infected people were unaware that this cover was available to them, even though it has been around for seven years.

In addition, 22% of HIV positive people cancelled an insurance policy due to their diagnosis, with 40% of those who did this actually being covered by their policy.

“I have recently been working with the Association of British Insurers to raise awareness of HIV life insurance, and have written their new HIV and Life Insurance Consumer Guide, which is now widely available,” Morgan added.

In addition, to mark World AIDS Day, the National AIDS Trust (NAT) has produced a report outlining the opportunities and challenges for the NHS when supporting people with HIV.

Their HIV In The Future NHS report argues that one of the biggest obstacles to the health service is an unclear delineation of commissioning responsibility, which remains a legacy of the Health and Social Care Act 2012.

NAT chief executive, Deborah Gold, said: “NAT is calling for a step-change in how the NHS approaches HIV.

“We need to maintain our excellent treatment outcomes while building future health services that meet the care and support needs of the over 100,000 people who will live with HIV for the rest of their lives.

“For this to happen, we need to move on from the confusion over commissioning responsibility, which has overshadowed conversations about HIV services.

“Leadership is needed from the government and NHS England on how we can make our health system work for everyone living with HIV.”

The report recommends that commissioners and providers should adopt long-term condition management structures, person-centred care, and collaborative commissioning methods for better services.