According to Stats SA, more than 8 million South Africans are living with HIV. Fortunately, thanks to the widespread availability of antiretroviral therapy (ART), it’s possible for those with HIV to live long and healthy lives.
If you’ve been diagnosed as being HIV positive, you might wonder if it’s possible to take out life insurance. The good news is that you can! In fact, an insurer isn’t allowed to discriminate against you based on your HIV status. However, your insurer’s underwriters would still want to assess your level of risk – the same way they would if you had any other chronic illness. This is why your treatment of the disease as well as your CD4 count will play a factor in whether your policy is approved.
What Is A CD4 Count?
CD4 cells are white blood cells that fight infection in your body. The higher your CD4 count is, the healthier your immune system is. Typically, HIV positive people that are responsible about taking their antiretroviral medication will have a higher CD4 count. This is why, if you’re HIV positive, your insurer will want to know your CD4 count – so they can correctly asses your level of risk.
A Little Bit About Loading
If you’re HIV positive and have a healthy CD4 count, an insurer can accept your application for life cover, but it may attract a loading fee based on your level of risk. A loading fee is a small percentage increase in the premium rates. This fee is applicable to individuals who are prone to a particular form of risk. As an example, if you work in the police force, the chances of you making a claim on your life insurance policy are slightly higher compared to someone who works as a hairdresser. Your increased risk could attract a loading fee and the same applies to someone who has been diagnosed with HIV or another chronic illness.
Roll With The Changes
You should also know that loading fees aren’t always forever. A good life insurance policy will change and grow as you do so, if the cause for any loading is improved or no longer a factor, it may be removed or reduced. In short, if that police officer quits their job to become a painter - or your CD4 count improves - the insurer could reduce or remove the loading.
In short, if you’re one of the many living and enjoying their lives to the fullest – despite an HIV diagnosis – there’s nothing stopping you from applying for life insurance.
