Figures from Unusual Risks, the medical financial advisers, have pointed to the average amounts of life assurance HIV Positive men and women are insuring themselves for has stabilised.
Currently Unusual Risks calculated HIV Positive people who are taking out life assurance in the UK are insuring themselves for an average of £134,733.
This latest survey was conducted as a follow up to a similar survey that was released last year where the average figure was £137,192.
According to Chris Morgan, lead financial adviser of Unusual Risks, Mortgage & Insurance Services said it appears the average figure for HIV life assurance has now finally stabilised following the introduction of higher policy underwriting limits by insurance companies over the last few years.
Mr Morgan said: “Last year there was a sharp increase in the sum assured of the average HIV Life Assurance in the UK, because a number of insurance companies removed their £250,000 maximum cover limit for applicants.
“This year’s figure shows that the market has now stabilised following these changes by the major insurers.
“There are now many more opportunities for HIV positive people to obtain life insurance, with companies now offering significantly higher amounts of insurance.
“Life Insurance has been available to HIV positive people since 2009, however in our recent survey 33 per cent of Positive people were still unaware that cover was even available to them.”
Mr Morgan and Unusual Risks have recently been working with the Association of British Insurers and have helped them to produce a new HIV and Life Insurance Consumer Guide.
The guide includes information about sexual orientation and insurance, key principles of HIV and insurance, HIV testing, availability of insurance products, cancellation of life insurance following diagnosis and disclosure of HIV status on life insurance applications.
