Unusual Risks marketing manager Chris Morgan has urged people diagnosed as HIV+ to check the terms and conditions of their protection contracts before cancelling them as they may still be covered.
Morgan’s warning comes after research carried out by the specialist medical financial adviser which shows around 76 per cent of people who are HIV+ cancel a protection insurance policy following their diagnosis.
Of the 123 HIV+ people asked whether they had cancelled an insurance policy following their diagnosis, 93 said yes and 30 said no.
When asked, if yes, which type of policy was cancelled, 63 said life assurance, 37 said income protection, 18 said critical illness and 41 said private health insurance.
Unusual Risks marketing manager Chris Morgan says: “It is quite shocking to think that over three quarters of people diagnosed with HIV are cancelling their insurance policies after their diagnosis, it would appear that this is without checking the terms and conditions of the contract first.
“We have found that the majority of income protection, critical illness and private medical insurance policies do not cover people in the event of HIV. However, the majority of life assurance and life insurance plans do in fact cover people in the event of a HIV diagnosis.”