Prudential first big name to offer insurance to HIV/AIDS patients

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HIV patients find a friend in Prudential Finance as the company offers new life insurance policies to those with the disease
By Jason Spencer | Dec 03, 2015
For years many people afflicted with HIV and AIDS have found it difficult to receive the care they need. With doctor visits and medication prices adding up after years and years of treatment, life insurance was often out of the question until now.

According to the Los Angeles Times, people living with HIV are finally being offered life insurance, with Prudential Financial among those with big names in life insurance.

Prudential is working in partner with Aequalis, a financial service company well-known for supporting those infected with HIV and other under-represented illnesses and conditions.

According to Opposing Views, many companies in the past only offered programs with high premiums and deductibles due to the large medical bills HIV patients pay. An affordable plan was hard to come by, which is why Mike McFarland, the chief underwriting officer for Prudential Individual Life Insurance, calls this new move a"significant step in the right direction."

New York Daily News reports that this new development comes shortly after a price battle on Daraprim, an effective drug for those with weakened immune systems. Many remember the public outrage when Martin Shkreli bought the rights to Daraprim and jacked the price from $13.50 to $750 per pill.

As of late, an alternative to Daraprim is being offered by Express Scripts and Imprimis Pharmaceuticals.

And while the two are reported as being unrelated, California Insurance Commissioner Dave Jones applauds Prudential for the inclusion of patients who previously didn't have many options.

"Millions of people living with serious chronic illnesses, such as HIV, need the ability to purchase life insurance to provide for their loved ones," said Jones. "Acknowledging that HIV is a chronic but manageable condition is the right thing to do."


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