Insurer to Offer Policy Covering HIV, AIDS

LONDON — A London-based insurer is targeting gay men as a niche market with what it says is a first: an income protection policy that includes coverage for HIV or AIDS.

The policy, underwritten at Lloyd’s of London, offers coverage for gay men contracting HIV, AIDS or other sexually transmitted diseases, according to Goodfellow Rebecca Ingrams Pearson, or GRIP, the underwriting agency that is marketing the policy.

“I’m aiming for the male population with a high disposable income who also have great concerns, because of fears over AIDS, for their own mortality,” Simon Burgess, GRIP’s managing partner, said Wednesday.

“The perception of risk is far greater than the reality, which is why we ought to be commercially successful,” he added.

Like most mortgage or income protection insurance, the “Pride Without Prejudice” policies offer coverage in the event of unemployment or disability, accident or illness.

But they omit the exclusion for AIDS, HIV or sexually transmitted diseases that are normally written into similar policies.

“Gay men wouldn’t go to mainstream insurers because of having to answer intrusive questions about their lifestyles,” said Burgess.

Although the main customers are likely to be gay men, Burgess said he anticipates support from heterosexuals who might fear contracting AIDS, as well as lesbians and others who sympathize with GRIP’s nondiscriminatory approach.

The application form makes no mention of sexual habits and does not require a medical examination.

They will be distributed on the Internet and through brokers and independent financial representatives.