Drop in average HIV life assurance

The medical financial advisers, Unusual Risks, have recently published the results of their latest research on the average amounts of Life Assurance that HIV Positive men and women are insuring themselves for. In the UK, current HIV Positive individuals are insuring themselves for an average of £114,607*

The last set of surveys that were conducted indicated the average figures to be £134,130* in 2012, and £134,667* in 2013. These new figures reflect changes in the general accessibility of Life Assurance products to the HIV community.

The Marketing Manager of Unusual Risks, Chris Morgan, says:

‘It has come as a complete surprise that the Average Sum Assured of an HIV Life Assurance Policy has decreased over the last year to £114,607. However, at the same time over the last twelve months we have also seen a rapid increase in the number of people taking up HIV Life Assurance products’.

‘We believe the volume of people taking HIV Life Assurance has increased by around 140% over the last two years, which seems to have had an effect on the average sum-assured being taken by policy holders. We are of course delighted to see that more people with HIV are protecting their homes, mortgages, families and children’.

According to last year’s HIV Assurance Survey, over 70% of Life Insurance providers now offer cover to people with HIV. With the terms and premiums being varied so widely between different insurance companies, people who are looking for HIV Life Assurance are urged to talk with a specialist before applying.

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*Survey Results:

Unusual Risks surveyed over 100 Life Assurance policies taken out by HIV Positive people between April 2009 and December 2013 and established that the average sum assured was £114,607. In previous surveys with similar samples they established that the same figure was £134,130 in 2012 and £134,667 in 2013.