01.11.2011 by Marketing Concepts
For people living with HIV, especially those rejected by traditional life insurers, specialist life insurance provider, AllLife, is changing their lives by keeping them healthy and offering affordable life and disability cover.
The reality is that life insurance for people living with HIV is generally not available, as traditional life companies require a negative HIV test in order to provide life cover. Without life insurance, people living with HIV are often barred from accessing other financial services and products. With life cover, they can enter the financial market as real participants.
AllLife has become known for providing affordable life products to people living with HIV and impacting social change by providing financial security and hope for the future. “Our life insurance sends the powerful message that people living with HIV should plan to live long lives, not wait to die. This allows clients to think about their future and start planning for their long-term financial needs,” says AllLife Managing Director Ross Beerman. The life policies are utilised for all the usual reasons people take out life insurance, such as taking care of dependents should anything happen, or ceding policies to banks to gain access to home and business loans.
In addition to the insurance benefit, AllLife clients benefit from significant health management assistance, as AllLife approaches HIV as a chronic manageable disease and they have built their offering around this. The foundation of AllLife’s approach is linked to assisting clients manage their health and tracking adherence to health management protocols. Dr Avron Urison, medical director at AllLife, says “our ability to monitor that AllLife clients remain adherent to the HIV management protocols, has been the cornerstone of provision of life insurance and disability cover”.
He continues “we recognise that clients who actively monitor the progress of the disease, and who responsibly follow the recommended medical treatment, can expect to live healthily, and should enjoy access to the same financial products available to non-HIV positive people.”
The results are staggering, with adherence rates far exceeding those in the healthcare management industry and clients showing a significant improvement in their health on an annual basis, Beerman adds “the health management function that we perform dramatically improves the health of our clients and, in turn, reduces their mortality risk. This enhances their quality of life and enables us to provide affordable life and disability cover.”
AllLife’s clients respect and appreciate this approach, recognising the value of the 2-way insurance relationship mandated by Alllife, and benefiting from this relationship through their improved risk profile. Alllife has been the leader in innovating and delivering to this underserved segment of the life insurance industry. Their product offering has been designed to accommodate the long-term financial needs of this important, yet previously ignored, portion of the population.
With World Aids Day coming up on 1 December, the message is clear – AllLife, a South African company, is making a difference to the social fabric of South Africa by giving hope to those living with HIV and impacting on their health.