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HIV & Income Protection – Case Study

  • Name: Edward
  • Age: 34
  • Occupation: Graphic Designer – Freelance
  • Health Condition: HIV

Edward, a talented graphic designer has been living with HIV for a number of years and has effectively managed his health condition through medical treatment and a healthy lifestyle. Edward’s initial efforts to obtain income protection cover were met with disappointment, as conventional insurance providers could not offer Edward cover.

Edward made several previous attempts to secure income protection through mainstream insurers, only to be declined. This left Edward feeling frustrated and uncertain about his financial future.

What is income protection?

If you can’t work because of a health problem or injury, a good income protection insurance policy will give you a steady income. This money is paid out tax-free. Depending on your policy, your insurance will either cover you until you are healthy enough to go back to work, or until you retire. Most income protection insurance policies will pay out a percentage of your salary – often 50-70%. This means that you will receive a higher income than relying on statutory sick pay entitlement alone.

Searching for an Income Protection Specialist.

That’s when Edward searched online for a reputable company that could help him obtain HIV income protection. Edward did his research and checked The Insurance Surgery’s customer reviews, online presence and social media. Once happy that he was in safe hands. Edward phoned the Insurance Surgery to start his application.

The Insurance Surgery is a specialist life and protection insurance broker, whose focus is to support people with medical conditions, obtain affordable and comprehensive cover.

Edward was allocated a dedicated protection adviser, called Rick who began by collecting comprehensive medical and lifestyle information from Edward to gain a thorough understanding of his current situation and overall well-being. Once Edwards’s application had been submitted, Rick was required to obtain a report from Edward’s HIV specialist. To save Edward the hassle of calling and following up with his specialist. Edward gave Rick permission to contact the specialist for the report. After two weeks Rick had received the report and the application could be finalised.

Fully prepared with the application and specialist report, Rick was able to use his expert knowledge of the specialist industry and his access to an extensive range of providers to find Edward his ideal policy that included no exclusions for HIV and only a 50% loading.

Policy Options.

Option 1 – Requested:

  • Monthly Benefit: £1,866
  • Waiting Period: 4 weeks
  • Benefit Period: 2 years
  • Guaranteed Insurability Option (GIO) Included
  • Coverage up to age 68
  • Estimated Premium: £52.22

Option 2 – Alternative:

  • Monthly Benefit: £2,750
  • Waiting Period: 4 weeks
  • Benefit Period: 2 years
  • Guaranteed Insurability Option (GIO) Included
  • Coverage up to age 68
  • Estimated Premium: £74.98

Rick presented Edward with these options, outlining the benefits, cover details and associated costs for each policy. Edward was thrilled to have not only secured income protection but also to have a choice between options that catered to his specific needs.

Client Testimonial.

“I had almost given up on the idea of ever obtaining income protection due to my HIV diagnosis. The Insurance Surgery not only gave me hope but also delivered results beyond my expectations. Their dedication to comprehending my situation, identifying suitable providers, and guiding me through the process was exceptional. Thanks to their efforts, I now possess the financial protection I require.”

Edward’s case underscores the significance of collaborating with specialists who possess an in-depth understanding of medical conditions and the insurance landscape. The Insurance Surgery’s proficiency, coupled with their commitment to achieving the best possible outcomes for their clients, empowered Edward to overcome the challenges he encountered in acquiring income protection cover. This case also underscores the evolving nature of insurance underwriting, as progressive providers acknowledge advancements in medical treatments and extend cover to individuals with pre-existing conditions such as HIV.

For more information on income protection if you are living with HIV. Give us a call on 0800 083 2829 or start a live chat. Alternatively, complete the form and Get an Income Protection Quote.