9 out of 10 people living with HIV who are on treatment have access to creditor insurance with no premium surcharge or exclusions at BNP Paribas Cardif
• BNP Paribas Cardif is making it easier for people living with HIV to obtain insurance.
• The insurer continues to facilitate access to insurance coverage, taking into account the latest advances in HIV treatments.
• This initiative is part of a comprehensive approach taken by BNP Paribas Cardif for more than 15 years, embodying its commitment to provide insurance coverage for vulnerable segments of the population under optimal conditions.
BNP Paribas Cardif, a major player in creditor insurance, has announced that, effective 1 December 2024, its creditor insurance policies sold in France will be accessible to people living with HIV who are on treatment, without any premium surcharge or exclusions. Eligibility applies for people whose viral load is undetectable when they subscribe the insurance coverage and for loans of up to one million euros.
To mark World AIDS Day, BNP Paribas Cardif reaffirms its commitment to more inclusive insurance coverage, announcing a major advance that facilitates access to creditor insurance for people living with HIV in France.
Creditor insurance guarantees repayment of a loan in the case of death, disability, incapacity to work and/or job loss. Strengthening protection for borrowers in France, regardless of their health status, is essential. For more than 15 years BNP Paribas Cardif has demonstrated an active commitment to making insurance more accessible, simpler and easier to understand thanks to products and coverage options that reflect the actual situations of policyholders who suffer from certain pathologies. This approach, which is based on taking the latest medical advances into account, has already led to concrete measures that make it easier to obtain creditor insurance for people who suffer from asthma, Parkinson’s disease, gestational diabetes or tetraplegia, for example. In 2023, this same approach was introduced to benefit people with inflammatory bowel diseases (IBD) such as Crohn’s disease and ulcerative colitis.
In France, some 180,000 people currently live with HIV. Many of them face a host of hurdles when they try to obtain creditor insurance. To address this situation, BNP Paribas Cardif is announcing a change in its fee policy: effective 1 December 2024, people living with HIV who are on treatment and whose viral load is undetectable at the time they take out the creditor insurance will benefit from fees without premium surcharges or exclusions for loans of up to one million euros . In France in 2021, 93% of people who have been diagnosed with HIV and are treated with antiretroviral therapy, had an undetectable viral load .
This initiative goes beyond the criteria set by the AERAS agreement to further facilitate access to creditor insurance for people living with HIV who receive regular treatment, which in particular prevents transmission of the disease and protects the immune system achieving an undetectable viral load.
The AREAS agreement, which ensures that people living with HIV can obtain insurance at standard fees, currently includes the following stipulations:
– An undetectable viral load one year after the beginning of treatment;
– A CD4 count ≥ 500/mm3 and an undetectable viral load in the 12 months prior to the insurance subscription;
– The duration between the beginning of treatment and the end of the creditor insurance policy may not exceed 35 years;
– A maximum loan coverage term capped at 25 years.
To enable someone living with HIV to pursue their life plans and enjoy broad access to creditor insurance without any premium surcharge or exclusions, BNP Paribas Cardif is simplifying eligibility criteria, retaining only undetectable viral load at the time the insurance policy is subscribed, applicable for loans of up to one million euros.
Thanks to this initiative, BNP Paribas Cardif continues its mission of making insurance more accessible by proposing simpler and more inclusive solutions that better support its policyholders.
BNP Paribas Cardif Life Insurance announced the launch of “Signature AI Variable Annuity (Non-dividend type)”, which helps customers prepare for the future funds along with asset management using AI (artificial intelligence) technology. It provided this new product through General Agency (GA) channel.
BNP Paribas Cardif Life Insurance is the life insurance subsidiary of BNP Paribas Cardif in Korea, the insurance arm of BNP Paribas.
The proportion of the elderly population in Korea is rapidly increasing and it is expected to enter a super-aging society in 2025. The relative poverty rate of people over the age of 66 in Korea was ranked first among 37 OECD (Organisation for Economic Co-operation and Development) countries (as of 2018).
On the other hand, when looking at the sources of income for people in retirement age, more than half (52.0%) of them depended on earned income, and they did not prepare for old age through public/private pensions such as the national pension or personal pension.
“Signature AI Variable Annuity” provides both an “AI fund” and “ETF fund”. “AI fund” provides investment services using AI technology that is growing worldwide while the advantages of “ETF fund” are low cost and diversified investment. With this new product, BNP Paribas Cardif in Korea offers a variety of investment options to customers who want to prepare for the retirement funds.
The “AI fund” composes an optimal investment portfolio with AI algorithms and asset management companies advice. “Signature AI Variable Annuity” provides a total of 4 AI funds which are equipped with a specialized AI algorithm (Mirae Asset AI, Fount, Shinhan NEO, and KB Anderson) respectively so that customers can make the most of the advantages of AI fund investment by selecting as many as they want, based on their investment preferences.
Customers who want to invest in ETFs can choose individual ETF funds.
“Signature AI Variable Annuity” can be selected from two types: the General Death Type that covers death, and the Disaster Disability Type that covers a high degree of disability. It can be subscribed up to age 70 depending on the policy period and product type. Policyholder can choose a payment option for basic insurance premiums between regular premium and single premium. If a policyholder wants more stable profit management after accumulating profit for a certain period of time, he/she can use “general account conversion” which is accumulated at the declared interest rate, or transfer of reserves into “bond ETF type funds”.
In Brazil, a new partnership has been announced between BNP Paribas Cardif and Neon, one of the main fintechs in Brazil in order to offering financial protection, property and life insurance
NEON is a digital bank that offers credit cards, personal loans, and investment products.
Its mission is to unite technology and design to redraw and simplify people’s financial experiences, reduce inequalities, showing financial ways that are simpler.
This partnership is the result of the union between two companies with fully synergic missions: while NEON aims to promote the access to simple and fair financial services for its clients to become the bank for Brazilian workers, BNP Paribas Cardif’s mission is to make insurance more accessible.
A survey conducted with NEON clients showed that 80% of them do not have insurance, and the main reason for this is the high cost. Based on this observation, NEON wanted to change this reality and begin offering financial protection, property and life insurance.
