Please see the latest information regards HIV rates for Altrisk, taken from their “In Touch” e- newsletter of this month.
HIV cover rates reduced, also gives two scenarios of how cover is viewed.
Excerpt taken from Altrisk e-newsletter January 2014.
“Altrisk reviews HIV rates
We’ve just reviewed our pricing for HIV clients and we are
proud to retain our position among the most competitive in
Altrisk’s specialist risk underwriting expertise gives us a
unique position to adjust our rates. We were the first
insurer in South Africa to offer cover for HIV+ clients in
1999 and this gives us the advantage of years of actuarial
data to draw from to analyse trends, disease curves and
interpret medical data for insurance purposes.
Since 1999 Altrisk has had three HIV rate reviews,
decreasing premium rates each time.
Our approach to HIV+ applications now follows one of two
If your client is already HIV+ when applying for cover and
o n a n t i r e t r o v i r a l t r e a t m e n t f o r m o r e t h a n
12 months, underwriting will be based on the client’s
condition when applying. In this scenario treatment
adherence is not a condition for cover, but proof
of ongoing adherence could result in discounted premiums.
If your client was diagnosed with HIV recently, or finds out
when applying for cover that they are HIV+, cover where
granted will be conditional. The client must commit to
starting treatment within 60 days of being advised to, and
commit to following a treatment protocol for a minimum
period of one year. After this year, no proof of compliance
with a protocol is required.
HIV is a chronic disease, not a death sentence
Altrisk has always viewed HIV as a chronic disease, similar
to other illnesses such as diabetes. Now experience also
shows that people living with HIV are living longer, which
means that the cost of cover is also decreasing.
This is why we believe the life insurance industry has to
reconsider its approach to the disease, how it’s
underwritten and the scope and quality of cover available
for HIV+ applicants.
Fourteen years after Altrisk launched the first benefit for
HIV+ clients, other larger insurers are starting to offer this
cover. This is a positive development for consumers in
removing the stigma as well as providing greater financial
security for people living with chronic illnesses such as HIV.”