Dive Brief:
- Prudential Financial Inc. is set to make some history in the life insurance industry as the first major American company to announce traditional individual policies for otherwise healthy people who have HIV. Historically, HIV-positive people have been excluded from all but the most minimal coverage, they say.
- The move highlights the increasing understanding and acceptance that HIV and AIDS are now chronic but manageable conditions.
- The company had not issued details as of Monday on pricing or eligibility criteria, though experts suggest the policies can be expected to cost more than those for people without HIV.
Dive Insight:
The move came as World AIDS Day was observed Tuesday, drawing attention to the CDC's estimates that more than 1.2 million Americans have HIV and about 50,000 are newly diagnosed annually.
“With advances in the successful treatment of people with HIV, we are now able to offer this population the opportunity to apply for life insurance – a milestone we see as a significant step in the right direction,” Mike McFarland, vice president of underwriting for Prudential Individual Life Insurance, said in a prepared statement.
According to Kaiser Health News, life expectancies for HIV-positive people who can access and adhere to medication are in the 70s, though with age they are at increased risk for additional conditions such as cancer, osteoporosis, and heart, liver and kidney disease.
Offering life insurance, even at higher rates, puts those with HIV into the category of people with other conditions routinely covered, including cancer and Hepatitis C, KHN notes.