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Life Insurance Change
Apr 10, 2007

I am HIV positive and was able to acquire term life insurance through my employer without any medical questions bumpig it up to the maximum coverage over the years.

I was then laid off and paying the full cost myself is getting to be a challenge. I am at the mercy of wherever my former employer decides to move their insurance to. Less then a month later it was moved to some fly by night place that took months to find me in their system, has no web site and only takes paper checks to a P.O box. I do not feel secure with their new choice.

Is it possible to shop around for a better deal without disclosing my health status as long as I can prove I am currently covered? Is selling to a life settlement company something HIV positive people can still do if you are not sick?

Response from Ms. Franzoi

With an HIV+ status, there are few companies that offer life insurance on an individual basis and the coverage is limited - NY Life through AARP, Mutual of Omaha, Physician's Life and Gerber Life. Available coverage often is less than $10,000. Having existing coverage won't help.

Your best option is to continue to carry your conversion coverage. You might be able to reduce the face amount and thus reduce your premium. You'd have to check with the insurance company on this.

Viatical settlement companies still purchase policies but I do not know what their criteria is.



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