AIDS Insurance A Moneyspinner In SA |
|||||||||||||||||||||
|
23 July - AIDS insurance is proving to be a huge moneymaker for South African insurance providers who offer it, with the proviso that policy holders submit to regular checkups to see if they go from being HIV-positive to the dreaded scenario of full-blown AIDS. Remarkably enough, the two companies offering the insurance: AllLife and Altrisk Ltd both report that they have yet to receive a claim! The former have been offering the insurance to HIV-positive clients for nearly two years. Altrisk have offered a similar product for 15 months, and have now also reported 0 claims to date. Moneyweb reports that AllLife has approximately a thousand cients who have taken out the AIDS insurance. In some cases policies will pay out as much as R3 million to cover debts and expenses. AllLife is a unique life insurance company founded on the premise of offering life insurance to people with chronic illnesses, most notably those who are diagnosed as HIV-positive. In South Africa a diet that includes fruit and vegetables combined with regular showering has somehow failed to stop the spread of AIDS (despite the ANC's guide to healthy living) and more than two million of our citizens have perished as a result of this pandemic in the last two decades. The government's failure to prevent the rampant spread of the HIV infection has definitely created a huge market for life insurance firms. Policy holders must have regular blood tests and commit to taking the retroviral medication once they are approved. This obviously diminishes the risk exposure for the life insurance provider. The profitability of offering life insurance to HIV-positive individuals means that bigger SA life insurance providers will probably look to offer this product as well - it should also find international favour in other countries like Russia and Thailand that have also been hit hard by AIDS. Related Insurance Articles: * New SA Insurance Company Launches * Car Insurance Claims In SA Rise Sharply * SA Eagle Now Part Of Zurich Financial Services Group * Insurance Scam In Alaksa Traced To South Africa * New Home Insurance Policy For Landlords * South African Crime Statistics Cause Concern * Rising Power Outages Impact SA Insurance * Medical Aid Giant Has Ailments Of Its Own 
|
| ||||||||||||||||||||
| 3/14/2010 7:06:32 AM | |||||||||||||||||||||
 |