As life expectancy for HIV-positive people rises, it is seen as chronic illness that is manageable
Manulife has become the first Canadian insurance company to offer life insurance to people who are HIV-positive.
In a release Friday, the insurance conglomerate said it made the decision after it reviewed the latest mortality and long-term survival rates of HIV-positive Canadians and gained a better perspective on individual risk profiles.
The move comes as new drugs have changed an HIV diagnosis from a terminal illness to something more like a chronic disease that can be managed with proper medication.
“Manulife was the first insurer to underwrite people with diabetes, and we are continuing in that tradition by making life insurance a possibility for the more than 75,000 Canadians who have tested HIV-positive,” CEO Marianne Harrison said. HIV is the virus that leads to AIDS.
“This is the result of work completed by our research and innovation team and working closely with our colleagues in the United States at John Hancock.”
Promising new drugs
The company will now consider insuring people who ​have tested HIV-positive, are between the ages of 30 and 65, and meet certain other criteria for life insurance policies that would pay up to $2 million upon death.