HIV Positive Clients at Old Mutual Get Windfall
April 23, 2016
HIV Positive people are starting to live longer than people expected.
Due to medical research and improved medicines, they have a much better chance of getting older.
Because of this, Old Mutual has released a percentage of their reserves they have built up over the years from insurance, to assist and benefit HIV positive people who are generally in the lower income bracket.
The reserves that Old Mutual have set aside is due to the success of the anti-retroviral roll-out program in 2000.
This program increased the longevity of HIV policyholders said the Old Mutual group CEO, Julian Roberts.
HIV Positive Statistics
Studies have shown that people older than 15 years with HIV, are now living longer than 20 years ago and have a better chance of getting older.
A study done by the Actuarial Society of SA found that the lifespan in males increased from 51 years in 2005 to about 56 years in 2014. And for women, from 56 to 62.
Experts did the study before the government’s change in policy, allowing earlier HIV treatment. The Actuarial Society of SA suspects that the statistics will be even better today with a new study.
A study conducted last year shows that baby boys will live for about 59.1 years, and baby girls will live for 63.1 years.
The study also shows an improvement of the longevity of people because of the antiviral and HIV treatment.
Old Mutual first introduced this funeral policy during the 1990’s in response to the reluctance of HIV positive people not wanting to be tested to get funeral cover and life insurance.
Now they are under no obligation to go for any medical tests.
Long Live Longevity
Because of the longevity of people with HIV, Old Mutual can use the excess to improve the benefits of their funeral cover for low-income clients.
No matter what income bracket you are in, you will be taken care of by Old Mutual’s funeral cover one way or another. They ensure a better life for all including HIV positive clients.
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All info was correct at time of publishing