Accessing Personal Insurance for People with HIV

Accessing Life Insurance and Income Protection for People with HIV: Myths Dispelled and the Importance of Expert Advice

Living with HIV has seen significant advancements in recent years, particularly in terms of medical care and access to insurance. At Mather & Murray Financial, we understand the unique challenges and opportunities that these changes present. Recent updates within the insurance industry now make it easier for individuals living with HIV to secure income protection insurance, alongside life insurance. This blog explores why it is crucial for people with HIV to seek expert advice on personal and family protection, dispels common myths, and explains why Mather & Murray Financial is the right partner to guide you through this process.

Understanding the Importance of Protection for People with HIV

Why Life Insurance & Income Protection Matter

Life insurance and income protection are vital financial safety nets for everyone, including those living with HIV. Life insurance can ensure that your loved ones are financially secure in the event of your death, covering essential costs such as mortgage repayments, funeral expenses, or providing a financial cushion for your dependents.

Income protection, on the other hand, provides a replacement income if you are unable to work due to long-term illness or injury. This is important, as everyone has the possibility of  getting ill or injured that could impact their ability to work.

Examples of When Life Cover or Income Protection is Needed

• Life Insurance Example: Imagine you have a mortgage on your family home. If you were to pass away before the mortgage is paid off, your family could be left struggling to cover the remaining payments. Life insurance can ensure that the mortgage is paid off in full, allowing your family to stay in their home without financial worries.
• Income Protection Example: If you were diagnosed with an illness that prevents you from working for an extended period, how would you manage your living expenses? Income protection can replace a portion of your income, helping you cover daily living costs, pay bills, and maintain your standard of living while you recover.

Dispelling Myths: Yes, People with HIV Can Get Insurance

Myth 1: People with HIV Cannot Get Life Insurance or Income Protection

One of the most persistent myths is that people living with HIV cannot obtain life insurance or income protection. Recent changes in the insurance market mean that many insurers now offer these policies to individuals with HIV. These policies are designed to reflect the current understanding of HIV, acknowledging that if you regularly take your antiviral treatment (ART) you are just as likely to live long, productive lives.

Myth 2: Insurance for People with HIV is Unaffordable

While premiums for those with pre-existing conditions, including HIV, can be higher, they are often more affordable than you might think. The cost of cover depends on various factors, including your age, health, and lifestyle. At Mather & Murray Financial, we work with a range of insurers to find options that suit different budgets and provide the coverage you need.

Myth 3: HIV Status Will Lead to Automatic Denial of Claims

Another misconception is that insurance claims will be automatically denied if you have HIV. This is not true. As long as you have disclosed your HIV status during the application process, insurers are bound by the policy terms and cannot deny a claim solely based on your HIV status. Transparency with your adviser, and in turn the insurer, is crucial to ensuring your coverage is secure and reliable.

Why Expert Advice is Crucial

Navigating the Complexities of Insurance

Understanding insurance policies can be complicated, particularly when dealing with a condition like HIV. Policies often include fine print regarding exclusions, waiting periods, and coverage limits that can significantly impact your protection. This is where expert advice becomes invaluable.

At Mather & Murray Financial, we specialise in helping individuals with HIV navigate the insurance landscape. Our team is knowledgeable about the latest industry changes and can find the best policies to meet your needs. We work closely with a variety of insurers to ensure you have access to comprehensive and affordable coverage.

Tailored Advice for Your Unique Situation

Every person’s situation is different. Whether you’re seeking life insurance, income protection, or both, we take the time to understand your specific circumstances. This includes considering your health, lifestyle, and financial goals to provide personalised advice that meets your needs. The only thing we are interested in, is you!

Why Choose Mather & Murray Financial?

Our Expertise and Experience

At Mather & Murray Financial, we have extensive experience working with clients who live with HIV. We understand the challenges you may face when securing insurance and are committed to providing the best possible advice and support. Our team stays up-to-date with the latest developments in the insurance industry to ensure that we can offer you the most relevant and effective solutions. We will give you financial confidence through comprehensive advice.

A Compassionate and Confidential Approach

We recognise that discussing your health and finances can be sensitive. That’s why we provide a compassionate, confidential service designed to put you at ease. We’re here to answer your questions, dispel any fears, and ensure you feel confident in the coverage you choose.

A Commitment to Finding the Right Coverage

We are dedicated to finding the right coverage for you, regardless of your circumstances. By working with a wide network of insurers, we can offer policies that are specifically designed to meet the needs of people living with HIV. Our commitment is to provide you with the protection you need at a price you can afford.

Summary

Securing life insurance and income protection is a vital step in safeguarding your financial future, especially if you’re living with HIV. With recent changes in the insurance industry, more options are now available than ever before. By working with a knowledgeable adviser, you can navigate the complexities of insurance and find the coverage that’s right for you and your family.

If you’re living with HIV and want to explore your insurance options, contact Mather & Murray Financial today. Our expert team is here to provide the advice and support you need to secure the best possible coverage. Let’s take the first step towards protecting your future—together. BOOK A CALL BACK HERE.

If you, or someone you know is living with HIV and need support or guidance, please click here.