Your Rights Are Our Business …. LGBT Life Insurance & Gay Life Insurance

Our friends at Compass first used this “strap line” over a decade ago, in the height of Financial Discrimination against gay men, when they were fighting for Equality on Insurance products. In September 2005 the whole of the UK Insurance Industry was forced to change their best practice towards gay men, because of the work of Chris Morgan and Compass.

The new Industry guidance not only changed things forever for gay men, but also for Lesbian, Bisexual and Transgender people applying for Insurance products. No longer were companies allowed to speculate on a person’s sexuality due to their occupation or living arrangements and no longer were gay men sent for automatic HIV tests because of their sexuality.

I think it is relevant to remind ourselves of the repression that LGBT people suffered at the hands of the Insurance Industry; especially as new “LGBT branded” insurance products appear to be very topical at the moment. Certainly since 2005 it has been easier for LGBT people to access Insurance products, which means wider choice and bigger decisions to make.

LGBT people can now buy their Life Assurance from practically the whole of the market and of course Compass regularly help clients to do this, just like they have been doing since 1999. So, if you are considering purchasing a LGBT branded product from a “tied” or “direct” provider, they believe you should adopt the same principles that you would if it wasn’t Gay.

So, for example if the Term Assurance you are offered is for 10 years only, when a longer term up to 40 years is available to you through whole of market, why would you proceed? And if you were offered Life Assurance only, without any options of Critical Illness Cover and Income Protection, even though they were available to you in the whole of market? Why would you proceed?

Compass are still offering financial advice to LGBT people and sourcing products from the whole of the market place. They make certain there is no confusion and would like to clarify that we have never offered LGBT branded products and have absolutely no intention of doing this? Just because a direct product / insurance provider claims to be “Gay”, doesn’t necessarily mean it’s good!

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

Compass Featured In The National Press – LGBT & Gay Life Insurance

Our friends Compass and Chris Morgan have been featured across the national press this last few months, with their latest LGBT Insurance Survey featuring strongly. In their latest survey it was established that Lesbian, Gay, Bi Sexual and Transgender people take out an average of £176,695 of Life Insurance.

Chris Morgan has a long history of working towards better treatment of LGBT people by the Insurance Industry and has led a 17 year campaign to secure better Insurance products for the LGBT Community. He spends the majority of his working time helping LGBT people find better Life Insurance, Income Protection, Critical Illness Cover and Mortgages.

Here are some of the news articles that have appeared in the national press …

The Actuary – Leading Industry Publication

“Average LGBT Life Insurance Sun Assured Exceeds £170,000″

http://www.theactuary.com/news/2016/07/average-lgbt-life-insurance-sum-assured-exceeds-170000/

Mortgage Introducer – Leading Industry Publication

“LGBT Insurance Survey 2016: Three Quarters Take Out Assurance To Protect Mortgage”

http://www.mortgageintroducer.com/lgbt-insurance-survey-2016-three-quarters-take-assurance-protect-mortgage/#.V-jPr_ArLcs

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

 

The Association of British Insurers – HIV & Life Insurance – New Guiding Principles & Consumer Guide …

Our friends Chris Morgan, Compass and Unusual Risks have been working closely with the Association of British Insurers on their new Guiding Principles for HIV and Insurance over the last 12 months, and they are very pleased to be supporting the recent launch of the new HIV and Life Insurance Consumer Guide.

They are very pleased to have contributed extensively to the new industry guiding principles and to have co-written the new HIV and Life Insurance Consumer Guide. Chris has a long history of working towards better treatment of HIV Positive people by the Insurance Industry and led a 10 year campaign to secure HIV Life Insurance for the HIV Community.

The new ABI Consumer Guide on HIV and Life Insurance is now available by contacting us via the email address below.

Chris Morgan’s official press comment is below which supports the ABI’s own press release.

HIV and Life Insurance Press Quotation – July 2016

Chris Morgan, The Lead Financial Adviser of our Contributors Compass and Unusual Risks, who are specialist financial advisers for the LGBT and HIV Communities.

“We would like to thank the Association of British Insurers for inviting us to participate in this consultation process and for allowing us to assist them in producing the new HIV and Life Insurance Consumer Guide”.

“Their new guiding principles and consumer guide are a very encouraging step by the Life Insurance Industry in their interactions with the HIV Community”.

“It is hoped that the new Consumer guide will help raise consumer awareness that Life Insurance products are available to HIV Positive people and also help to inform policyholders who are recently diagnosed with HIV, if they are still covered by their existing policies”.

Our friends at Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

LGBT Insurance Survey 2016 … Gay Life Insurance

Our friends at Compass, the Gay insurance advisers have today published their latest survey into the insurance needs of the LGBT Community. The research measures the Average amount of Life Assurance currently being taken out by Lesbians, Gay Men, Bisexuals and Transgender people, including policies taken out by LGBT people living with HIV.

This year Compass, has widened the survey to look at the reasons that LGBT people take out Life Assurance with 76% of policies taken out to protect Mortgages and 24% taken out to protect families, partners or children. The current average Life Assurance plan that is currently taken out by the LGBT community now has a sum assured of £176,695.

Chris Morgan the Lead Financial Adviser at Compass Mortgage and Insurance Services Said …

‘This year the LGBT Insurance Survey has established that the amount of Insurance being taken out by the gay community has reduced slightly to £176,695. The reason for this the continued inclusion in the survey of LGBT people living with HIV, with the average Life Assurance taken out within the HIV Community being lower at £134,733.

Chris continued …

‘The survey this year, has also focused on LGBT and Alternative Families with the amount of policies being taken out to protect families, partners and children recorded at 24%. Interestingly only 8% of people completing the survey also answered that the policy was specifically to protect Children’.

The LGBT Insurance Survey has been running since 2009 and was initially focused on monitoring the amounts of Life Insurance being taken out by LGBT Consumers. More recently the survey has researched the changing financial needs of the LGBT Community and this year there has been a particular focus on LGBT and Alternative Families.

Compass is able to arrange Mortgage Life Assurance, Mortgage Life Insurance, Critical Illness Cover and Income Protection for gay men and women, Bisexuals and Transgender clients. They are also specialists at finding Mortgages and Life Assurance for people living with HIV. They can be contacted on 0845 474 3075.

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

Where Can Lesbian, Gay, Bisexual and Transgender People Find The Best Life Insurance Advice?

Lesbian and Gay Insurance seems to be a very popular subject in the UK national press at the moment, with what appears to be a special focus on applicants being treated “sensitively” by Insurance companies …

The national press campaign in question seems to miss the most important point, that UK life Insurance companies have made tremendous and real efforts over the last decade to treat the Lesbian and Gay Community Equally. LGBT consumers should these days be focusing on more than just the basic service standards of insurers for choosing their Life Insurance products.

The UK Life Insurance Industry is about to publish their latest industry guidance for HIV and Life Insurance, which once again includes a clear commitment to the LGBT Community not to return to the dark days of asking the “Gay Question” on Insurance applications and sending gay people for automatic HIV Testing.

Only one financial adviser in the UK can genuinely claim to have changed Life Insurance for LGBT people for the better, right across the life insurance industry. Chris Morgan lead financial adviser at Compass led a decade long campaign to remove Life Insurance discrimination for gay people in the UK and to also to secure Life Insurance for HIV Positive people.

Here’s Chris’s basic guide to choosing Life Insurance and Insurance for Lesbian, Gay, Bisexual and Trans people …

Focus on your financial needs – You should choose an Insurance product that completely meets your financial needs and not compromise on product features because a product has been labelled or described as Gay. For example, if you choose Life Insurance, then always make sure the length of the policy covers your whole mortgage term or runs through to a defined date such as your retirement age.

Always take the longest term available – Life Insurance is always more expensive when renewed later in life. If you have good health and the option to take Life Insurance to cover your mortgage term or through to your retirement, then you should most definitely consider doing this.

Short term Life Insurance should be avoided – Only take short term Life Insurance (1 – 10 Year policies) if this is the only option available to you, or have a specific defined reason for doing so. This type of policy will certainly be more expensive to renew, than taking a longer Insurance policy from outset.

Safeguard against changing health circumstances in the future – Short term Life Insurance policies may appear to be a cheap option at outset. But, what happens if your medical situation changes and your not able to renew the policy. Most UK Life Insurance companies offer Life Insurance at Guaranteed premium rates for anything up to a 40 year term, so you should explore the whole of market before making important decisions.

Income Protection and Critical Illness Cover – Most major Life Insurance providers have options for applicants to add cover for sickness and serious illness to your policy. If this is affordable, then this is a great way to enhance the benefits of your policy and to make the policy more useful.

HIV Positive applicants are no longer excluded from taking Life Insurance – Several top UK Life Insurance Companies now offer Life Insurance to people living with HIV. The terms for HIV Life Insurance vary wildly between providers, so it’s a good idea to take specialist advice. 

Compass and their lead financial adviser Chris Morgan have been advising LGBT clients for nearly two decades. During this time Chris changed the landscape of LGBT insurance forever, by removing discrimination and securing Life Insurance for HIV positive people.

If you are considering taking Life Insurance, then they are ideally placed to assess the whole of the market for you and recommend the best policies for your financial needs. Nobody has a greater knowledge of Insurance matters for LGBT people then Chris Morgan and the team at Compass.

They also continue to use our long standing reputation to influence the direction of Insurers and define the way that LGBT and HIV Positive people are treated by the UK Insurance Industry.

Look out for the results of their annual “Gay Insurance Survey “, which are due to be published very soon and also the new Association of British Insurers “HIV and Life Insurance” Consumer Guide that Chris Morgan has written on behalf of the UK Insurance Industry.

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

Gay Life Assurance & Gay Life Insurance – Latest News …

The Association of British Insurers (ABI) have recently been consulting with stakeholders from within the Gay Community about their new “Guiding Principles” for insurance companies around HIV and Insurance.

Some of the community stakeholders that have recently been consulted include National Aids Trust, Terence Higgins Trust, Nam Aidsmap, HIV Scotland, George House Trust and Waverley Care.

Chris Morgan lead financial adviser at Compass, is part of the working group that created the new principles and following the consultation we are expecting them to be completed and published very soon.

Also, the new ABI consumer guide about HIV and Life Insurance, that fits alongside the new best practice, will be published soon and we will keep you informed of any developments as they happen.

The new guide will be used to raise awareness of the new rules effecting LGBT people when applying for Life Insurance products.

Anthony Said …

“I currently have Life Assurance with Scottish provident that was taken out in 2004, before Life Insurance Companies stopped asking single men about their sexuality. The policy has a number of specific exclusions relating to HIV and this has always been something that I’ve been unhappy with.

 Anthony Continued …

“The policy does offer Life Insurance and Critical Illness, but with exclusions for HIV and I was sent for a HIV test at the time. I would be interested to know if the rules regarding the treatment of gay men by insurance companies have improved in any way?”.

Here’s the latest news with regards to Insurance products for LGBT people …

Every week LGBT people still contact the Compass office with concerns about policies they have taken out in the past and the way they were treated by insurance companies. Since 2005 Life Insurance companies have not been allowed to ask personal “Gay Questions” on Life Insurance applications, or send gay men for an automatic HIV test.

Chris Morgan led a campaign for over a decade for the equal treatment of gay men and made certain that Insurers were no longer allowed to speculatively underwrite life insurance polices based upon occupation. Would you believe that Insurers used to automatically send cabin crew, hairdressers, ballet dancers and male nurses for HIV testing?

And Anthony?

Compass arranged Life Assurance for £90,000 without any personal questions, HIV testing or specific policy exclusions for HIV. Chris Morgan has recently been in discussions with the ABI about their latest draft of the HIV and Insurance Guiding principles and this will be available soon, along with a new consumer guide.

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk 

HIV Life Assurance & HIV Life Insurance Featured by My So Called Gay Life …

Our friends at Unusual Risks and their latest research have been featured by the leading Gay publication “My So Called Gay Life” …

You can read the full article by clicking here …

http://mysocalledgaylife.co.uk/pub/2016/02/15/hiv-and-insurance-awareness/

Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk 

Gay Life Assurance & Gay Life Insurance …

Our friends at Compass have been offering Mortgage’s and Insurance to Lesbian, Gay, Bisexual and Transgender clients for over 17 years. During which time they have seen many changes in the way that LGBT people are treated by Mortgage and Insurance Companies.

For many years Gay men and Women were discriminated against by UK Insurance companies, whilst taking out Life Insurance and were required to take compulsory HIV tests. In order to avoid this many gay couples found themselves taking out separate Life Insurance plans and gay singles found themselves taking out multiple insurance plans.

At the time this was very much the best advice possible, as Gay Men and Women avoided personal questioning and having to take a HIV test. Compass and their Lead Financial Adviser Chris Morgan led the campaign for the removal of this discrimination and as a result the LGBT Community are now able to take Insurance without any discrimination.

Compass still offer Insurance services to the LGBT Community, helping gay men and men to find the best possible premiums for their circumstances. They are able to review existing Insurance policies and also help LGBT people find the best new policies for their requirements.

They have become the UK’s leading Mortgage and Insurance brokers within both the LGBT and HIV Communities and their work within the HIV Community is widely documented. They also led the campaign for the introduction of Life Assurance for people living with HIV.

Whether you are looking for Life Insurance, Income Protection, Critical Illness Cover or a Mortgage, they are here to help with specialist advice. If you still feel discriminated against by any Mortgage or Insurance company, they would like to hear from you.

Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk 

LGBT Mortgage Survey …

Our friends at Compass are currently asking Lesbian, Gay, Bisexual and Transgender Mortgage Consumers to complete this very short two minute survey. This will help them to campaign for better treatment of LGBT people by the Mortgage Industry,

https://www.surveymonkey.co.uk/r/HBFCVM6

LGBT Financial Adviser – Gay Financial Adviser

Our friends at Compass are specialist financial advisers, that offer Mortgage and Life Insurance advice for Lesbian, Gay, Bi Sexual and Transgender clients. They offer a safe environment for people to discuss their private financial affairs, without fear of discrimination.

They have an unrivalled track record in securing equal rights for LGBT people, within the UK financial services industry. Their lead financial adviser Chris Morgan was responsible for the removal of the “Gay Question” from Life Insurance applications and the end of compulsory HIV testing for gay men by Insurance companies in the UK.

He was also responsible for the introduction of Life Insurance for people living with HIV and they are the UK’s most knowledgeable financial advisers for HIV Life Assurance and HIV Mortgages. Their commitment to offering financial advice to the LGBT and HIV Communities has been unwavering for almost two decades.

They are sometimes asked … Why are LGBT and Gay Financial Advisers still needed? 

DISCLOSURE

Some of their clients find it difficult to disclose their sexuality or HIV status to their bank, building society or local financial adviser. They feel safer and more comfortable disclosing what they consider to be private affairs, to a specialist financial adviser. They take client privacy extremely seriously! 

HOMOPHOBIA

Although social attitudes have changed considerably over the last two decades they still meet clients who need their urgent help due to homophobia. They have literally assisted hundreds of LGBT people overcome homophobic situations in their lives. They help to people secure the finance to move away from Homophobic neighbours!

TRANSPHOBIA

Trans clients ask them to arrange Life Insurance and Mortgages for them on a regular basis, as Life Insurance and mortgages companies can be difficult to deal with over Trans and Intersex issues. On many occasions in the past they have met Trans clients, who have faced discrimination when interacting with financial companies. They are highly experienced at representing LGBT people!

DISCRIMINATION

Sometimes they still hear stories of “changing attitudes” from bank staff, building societies and financial advisers once their client had disclosed their sexuality or HIV status. You wouldn’t think that in 2015 that this would still happen in society, but sadly it still does. If you ever feel discriminated against when taking a financial product, they are here to help and represent you!

CONFIDENTIALITY

They often meet clients who wish to take out a mortgage or life insurance with their partner and are worried that their family, bank manager or doctor finding out about their private and confidential information. They are here to represent LGBT and HIV Positive people and to help protect your personal identity!

LGBT & ALTERNATIVE FAMILES

They regularly advise LGBT, Alternative and Trans Familes about their protection and mortgage requirements. On many occassions they have found clients prefer to discuss their financial affairs with a specialist financial adviser who understands their community and their families needs. Compass have nearly two decades of experience advising LGBT parents and families! 

Our sponsors Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact our sponsors Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit them online at www.compassindependent.co.uk

  • About Us

    Pink Finance was first launched in the year 2000, as the UK’s first gay finance magazine. Over the years we have covered many discrimination issues affecting gay, lesbian, bi sexual and transsexual people.

    Our articles cover issues such as Gay Life Assurance, Gay Life Insurance, Gay Mortgages, Gay Income Protection, Gay Critical Illness Cover, HIV Life Assurance, HIV Life Insurance and HIV Mortgages.

    We also include feature articles on planning Life Assurance and Mortgages for LGBT and Alternative Families, along with articles with subjects such as Pensions and Investments for LGBT people.

    Our editor, Chris Morgan was part of the consultation group that led to the introduction of HIV Life Assurance and HIV Life Insurance for people living with HIV.

    He was a consultant to the Association of British Insurers for over five years and served on their HIV Insurance Working Group.

    Chris has recently rejoined the ABI working group, assisting them with their latest Best Practice guidelines and agreeing to write a new HIV and Insurance consumer guide.

    Our sponsors Compass have a long history of supporting worthy causes within the gay and HIV communities. Currently they are supporting NAM AIDSMAP who work to change lives by sharing information about HIV and AIDS.

    They believe that, wherever you are in the world, having independent, clear and accurate information is vital in the fight against HIV and AIDS.

    Compass Mortgage & Insurance Services is Authorised and Regulated by the Financial Conduct Authority.