Cape Town - Sanlam [JSE:SLM] this week became the first major insurer in South Africa to offer standard life cover to people living with HIV.
The move comes on the back of strong international and local research showing that HIV is now a manageable disease if given timely and proper treatment.
Dr Pieter Coetzer, chief medical adviser at Sanlam, said the company is now able to offer regular underwriting and life cover for HIV positive clients in its Matrix life insurance product.
He said: “We always wanted to insure special risks like HIV; however, we previously did not have sufficient local research studies and data to allow a satisfactory assessment of the risks involved.
"Two recent scientific publications have enabled us to take this innovative step in our underwriting.”
The maximum insured amount on the product will be limited to R5m and, as with all chronic diseases, granting of cover will be subject to certain underwriting guidelines.
Factors that will be taken into account include the stage of the disease, the extent of disease control and compliance, and possible complications.
Applications from HIV positive people for life cover on the Sanlam Matrix life assurance product will be considered from the end of July.
The move comes on the back of strong international and local research showing that HIV is now a manageable disease if given timely and proper treatment.
Dr Pieter Coetzer, chief medical adviser at Sanlam, said the company is now able to offer regular underwriting and life cover for HIV positive clients in its Matrix life insurance product.
He said: “We always wanted to insure special risks like HIV; however, we previously did not have sufficient local research studies and data to allow a satisfactory assessment of the risks involved.
"Two recent scientific publications have enabled us to take this innovative step in our underwriting.”
The maximum insured amount on the product will be limited to R5m and, as with all chronic diseases, granting of cover will be subject to certain underwriting guidelines.
Factors that will be taken into account include the stage of the disease, the extent of disease control and compliance, and possible complications.
Applications from HIV positive people for life cover on the Sanlam Matrix life assurance product will be considered from the end of July.