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existing term life insurance
Apr 18, 2012

I had life insurance and long term disability insurance long before I was diagnosed with HIV. Are these policies at risk with my recent diagnosis?

Response from Mr. Chambers

No, they are not at risk.

I don't know if your policies were individually purchased or come through your employer, but your recent diagnosis has no bearing on those policies continuing. If they were individual policies and they are at least two years old, there is nothing the carrier can do. If they came through an employer, you probably didn't even have to fill out health questions to get them.

Remember, those policies are sold as protection against what may happen in the future. The only way you can lose those policies is if you don't pay your premiums on time, so be sure and pay them promptly.

This is a good time to remind you to check your life policy to see if it has a Disability Waiver of Premium provision or rider. With that provision, should you become disabled and unable to work, the coverage can be continued without further premium payment by filing a claim for that benefit with the life insurance carrier.

Good luck, Jacques



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