Still get life insurance with AIDS.
Photo by Okko Pyykko

As of 2005, there were 58,000 Canadians living with HIV/AIDS. Traditional life insurance is generally not available to people who have immune system abnormalities, including HIV\AIDS.

However, life insurance coverage is available from guaranteed issue providers and many simplified life insurance providers.

Guaranteed issue coverage has no medical tests and no health questions. So, the HIV question is not asked. There are three caveats with guaranteed issue coverage:

1) the premiums are quote high

2) the available face amounts are low and the coverage has a two-year waiting period. Meaning, that if the insured passes away in the first two years by a non-accidental death, the death benefit is limited to a return of premium, and in some instances, interest.

Simplified issue life insurance also has no medical tests, but has three to 12 health questions. The premiums are lower and the face amounts are higher. Some simplified policies pay out immediately and others have a two year waiting period. The two leading providers of simplified life insurance coverage in Canada are Assumption Life and Canada Protection Plan. Canada Protection Plan deferred life and deferred term policies have the most favorable questions in terms of HIV and AIDS history. They read as follows Deferred Life “within the past three years, have the insured been treated for unusual chronic infection, including HIV and AIDS.” On Canada Protection Plans Deferred Term plan, which offers face amounts up to $100,000.00 of coverage, the question is even more favourable: “within the past three years, has the insured been diagnosed with or started treatment for unusual chronic infection or immune system abnormality, including HIV or AIDS.”

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