There are nearly 60,000 Canadians surviving with HIV or AIDS according to the figures quoted as of 2005. If you have any immune system disorder, including HIV/AIDS then the chances are you will struggle to purchase traditional life insurance.

However, life insurance coverage is accessible from guaranteed issue providers and quite a few simplified life insurance providers.

The plus side of guaranteed issue coverage is there is no health questions and no medical tests to take. Consequently you don’t have to state you have AIDS or HIV Unluckily this doesn’t mean it’s all good and I will make clear why:

1) the monthly payments are normally high.

2) the accessible face disbursement are low.

3) If you pass away within the first 2 years of taking out the scheme it won’t pay up. The waiting period means that if the insured was to die of a non-accidental death within this waiting period, then the benefactor would be lucky to receive the premiums plus interest or even just the premiums!

Simplified issue life insurance also has no medical exam, however it has three to 12 health questions on the application. With higher face
amounts and less expensive payments this type of scheme is better from the monetary side. Check the policy details, as some of them still have a waiting period which could be up to 2 years. The two dominant providers of simplified life insurance plans in Canada are Assumption Life and Canada Protection Plan. With regard to questions about HIV or AIDS then the differed term policy and the deferred life policy from Canada Protection Plan are the most user friendly.

The Deferred Life scheme has the question – within the past three years, has the insured been treated for unusual chronic infection, including HIV and AIDS? Whilst the Canada Protection Policy for deferred term asks 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? – this scheme is even better for the potential client and has $100,000 of coverage.