‘Average HIV Life Assurance Term & Sum Assured’

Currently HIV Positive people who are taking out Life Assurance in the UK are insuring themselves for an average of £129,704*.

In this year’s survey Unusual Risks have looked closely at the average term for a Life Assurance being taken out by someone living with HIV. The average Term for policies taken out between 2009 and 2013 is only 10* years, where policies taken from 2014 to 2017 this increases dramatically to 19* years, with the longest recorded at 25 years.

Chris Morgan, Lead Financial Adviser of Unusual Risks, Mortgage & Insurance Services said,

‘The average sum assured has remained fairly stable for HIV Life Assurance over the last few years at around the £130,000 mark as the products have become established and premiums have remained stable. We are delighted that Life Assurance has become so readily available for so many people living with HIV’.

‘In this year’s survey we decided to turn our attention to the average term of HIV Life Assurance and especially those people that between 2009 and 2013 would have taken shorter term contracts of between 5 and 10 years. There are now many more product options in the market and dependent on their current medical information, these people may now be able to secure a longer policy.’

The terms being offered by Life Assurance providers for people with HIV have gradually been improving over the last eight years and one of the areas where there have been significant improvements has been the length of policies offered, with the majority of new policies now being offered for between 15 and 25 years.

Unusual Risks always advise clients living with HIV to secure the longest term possible when taking their life insurance policy, in case their health circumstances change. If policy holders have short term cover that started with only a 5 or 10 year term, then they should now be reviewing their Life Insurance and seeing if Unusual Risks can secure them a better policy.

If you require more information on HIV Life Assurance, HIV Life Insurance or HIV Mortgages, or wish to review your current Life Insurance policy please contact Unusual Risks Mortgage & Insurance Services by phone 0845 474 3075, or by email at enquiries@unusualrisks.co.uk and on the web www.unusualrisks.co.uk

Survey Results

Unusual Risks surveyed 150 Life Assurance policies taken out by people living with HIV between April 2009 and April 2017 and established that the average sum assured was £129,704. They also researched the average term of the policies that people had taken out. Between 2009 and 2013 the average term was 10 years and between 2014 and 2017 the average term was 19 years, with the longest policy taken out recorded at 25 years.