Insurance provider is to extend its life cover to people with HIV in what is being described as a market first.
People with HIV will be able to buy life insurance from PruProtect, a joint venture between Prudential and a South African company.
PruProtect will be the first mainstream cover provider to offer life insurance to HIV sufferers. Initially, only seven percent of the HIV-positive population will be eligible for the £250,000 life cover but the company hopes that can be extended to 20 percent soon.
"We are pleased to be the first mainstream insurer to provide life cover for people living with HIV," said Kevin Carr, director of protection development for PruProtect. "I believe it is better to provide some cover for some people, than nothing for all."
People who wish to purchase the policy will not be offered "standard" premiums, according to PruProtect, but will have costs worked out on a case-by-case basis, taking into account medical history and other factors.
Despite the conditions, Lisa Power, corporate head of policy at HIV research charity the Terrence Higgins Trust, commented: "We welcome this move from PruProtect and are glad to see an insurer who recognises the reality of living with HIV in the UK in the 21st century. We hope this will be the start of a wider move to offer appropriate financial products to people with HIV."
