Hiv-Positive People Offered Life Insurance
CHICAGO - AIDS advocates are cheering the decision of an insurance company to offer life insurance to people with HIV, a move seen by many as a recognition of the significant advances made in treating the illness.
"I'm certainly amazed that the insurance industry is starting to recognize that there is some real hope out there for people living with this disease," said Javier Salazar, a lobbyist for Washington-based AIDS Action.
Guarantee Trust Life Insurance has become the first in the nation to offer life insurance to people infected with HIV. The Glenview, Ill.-based company specializes in insuring high-risk individuals and is test-marketing the coverage in Illinois.
State Farm and Allstate, two of the nation's largest insurers, said they have no plans to offer life insurance to HIV-positive individuals.
"The reasoning is, those who are HIV-positive are infected with a disease that is associated with high health costs and early death," said Murray Payne, spokesman for State Farm. "The underlying principle is the same for anyone with any other serious life-threatening disease."
The Guarantee Trust policies cost about $300 a month for $50,000 of coverage. That compares to $55 a month for a fairly healthy 30-year-old man who doesn't smoke.
Salazar noted the cost would be prohibitively high for most people.
Those who qualify must be under 49, have certain levels of the virus and infection-fighting T-cells and not have full-blown AIDS.