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Underwriting forms an integral part of risk insurance. This process categorises risk according to age, state of health, habits (including smoking and alcohol consumption), occupation and recreational activities. Ultimately, it ensures that each policyholder pays a premium appropriate to risk.

As part of the underwriting for risk, applicants are often asked to undergo blood tests including an HIV test. Pre- and post-test counselling is available to applicants.

The company has products for people living with HIV/AIDS. For some products (for example those provided to affinity groups, including retirement funds), HIV testing is not required or is required only if the level of cover exceeds free cover limits. To the extent that Old Mutual does not test for HIV, it does provide cover to many people who are HIV positive.

Individual applicants who are HIV positive can access a product in the Flexi range, called "Omucare". The product is based on either a normal FlexiDowment Standard Life Cover policy or a normal FlexiDowment High Cover policy. A higher premium rate is payable on this product, reflecting the higher mortality risk.

The product is only available from licensed financial advisers who have received training in both the product's attributes, and HIV/AIDS issues specifically.

Similarly, there is a product available to people who are HIV negative, but cannot obtain life cover under normal circumstances due to other medical reasons.

However, for most products where cover is voluntary and the applicant selects the amount of cover, applicants must be HIV negative at inception to qualify.

Old Mutual also provides products where there is a waiting period during which only accidental cover is available. During the waiting period, no non-accidental claims are paid, including HIV/AIDS claims. HIV/AIDS-related claims after the waiting period are paid.

Old Mutual offers training on HIV/AIDS and related issues to advisers who wish to become competent in this area for effective interaction with customers.