January 1, 2010

Q: I have been trying to get info on any type of Life Insurance for myself, a HIV + individual. I am very healthy and have been HIV + asymptomatic, undetectable for the last 20 yrs. I did have a life insurance policy, but after I found out I was HIV I sold it as was the thing to do at the time.

A: Individual guaranteed issue life insurance policies are available but we do not provide enrollment support for these because these are not a good deal for customers. These insurance plans typically have strong built-in safeguards for the insurance company to prevent them from paying you an amount that exceeds the amount you paid for the policy.

You are best advised to stay away and build your financial plan using another approach. For example, an employer-sponsored group insurance provided on a guaranteed issue basis might be possible in the future. Another option is to convert any remaining retirement account to an annuity with a minimum payout guarantee.

One of our core values at MedSave.com is to offer only insurance plans that have a good consumer reputation for reliability and value. We must decline strategies that would provide false assurance but would really not benefit you. Under this circumstance, it would obviously be better to use your money for any other type of savings vehicle.

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