Insurance company offers AIDS coverage.Insurance company offers AIDS coverage Petersen International Insurance Brokers earlier this month began offering HIV/Aids Insurance, the first policy of its kind, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Thomas R. Petersen, director of international health products at the West-wood-based affiliate of Lloyd's of London Not to be confused with Lloyds Bank or Lloyd's Register. Lloyd's of London is a British insurance market. It serves as a meeting place where multiple financial backers or “members”, whether individuals (traditionally known as . "All the AIDS treatments are expensive, and there was no insurance policy which would pay for experimental treatment before now," Petersen said. The group insurance program promises to pay a lump sum Lump sum A large one-time payment of money. equal to 250 percent of an individual's salary upon a diagnosis of HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. positive. The payout comes without strings. The beneficiary can use the proceeds to pay for AZT AZT or zidovudine (zīdō`vy  dēn'), drug used to treat patients infected with the human immunodeficiency virus (HIV), which causes AIDS; also called or some other drug treatment, or he could take a world cruise. HIV is the virus that causes AIDS (Acquired Immune Deficiency Syndrome Acquired immune deficiency syndrome (AIDS) A viral disease of humans caused by the human immunodeficiency virus (HIV), which attacks and compromises the body's immune system. ). A positive test result indicates that a person has developed antibodies to the AIDS virus AIDS virus n. See HIV. . Someone diagnosed as HIV-positive may show no symptoms of the disease for years, although some health experts have predicted that eventually everyone who is HIV positive will eventually develop full-blown AIDS or ARC, AIDS Related Complex. As of now the policy is available only to groups of five or more, and the groups must be policemen, firefighters, physicians, nurses, health care facility personnel or emergency medical systems personnel. Petersen said he expects the policies will eventually be offered to other groups and individuals. For groups under 20, each group member must take a test to establish they are HIV-negative at the time the policy is bought. For larger groups, the company asks only for affidavits that the individual is HIV negative at that time. The policies will be underwritten by 78 syndicates which are members of Lloyd's of London. Each of these syndicates has unlimited potential liability. The insurance will cost companies 1 percent to 3 percent of the benefit amount per year. If an employee earns $50,000, the potential benefits are $125,000, so the minimum premium would be $1,250. |
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