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Lincoln Financial Group and Munich Re, the world’s biggest reinsurer, have partnered to offer life insurance opportunities for millions of Americans afflicted with hepatitis C.
Through this collaboration, the companies will offer more favorable underwriting ratings for most individuals with hepatitis C who have been successfully treated, resulting in lower costs for life insurance coverage. In addition, Lincoln Financial will expand coverage eligibility for some untreated individuals.
“Lincoln is excited to partner with Munich Re to make the important protections of life insurance more attainable and affordable for those with hepatitis C,” said Mike Burns, senior vice president of life solutions at Lincoln Financial Group. “This leading-edge collaboration is a milestone for our industry, and it represents a significant step-forward in helping many people with this disease overcome some of the financial planning challenges they may have previously faced due to associated long-term health problems.”
Bill Moore, vice president of underwriting and medical for Munich Re, commented: “The incredible strides that have been made in treating hepatitis C are making it possible to take a focused, proactive approach to providing innovative coverage for individuals living with hepatitis C. We constantly monitor medical advancements not only in the US, but around the world, to help our customers expand their customer base and we are delighted to partner with Lincoln Financial Group in this effort.”
According to the Center for Disease Control (CDC), approximately 2.7 - 3.9 million people in the United States have chronic hepatitis C.
“The treatment of the hepatitis C virus infection has evolved significantly in recent years with the development of direct-acting viral medications resulting in shorter treatment duration, fewer side effects and improved cure rates,” said Dr. John Greene, vice president and chief medical director at Lincoln Financial Group.
“Lincoln and Munich Re have made it a priority to incorporate the newest clinical information about these medical advancements in our underwriting approach, which has resulted in improved or new life insurance opportunities for those with the disease.”
These new life insurance opportunities include both Lincoln Financial Group term and permanent policies with coverage up to $20 million, depending on age and rating class.
Lincoln Financial Group, Munich Re, Life insurance, Hepatitis C, US