Gay Life Assurance – The Latest

By | Published: 10th May 2010

Finding Gay Life Assurance, Critical Illness Cover and Income Protection can be a tricky business, so following our series of ‘classic’ Pink Finance articles here’s an up to date guide to buying Gay Insurance products in the United Kingdom.

  • It is now outside of the Life Assurance Industries best practice guidelines to discriminate against the gay community when applying for Life Assurance. This means that gay men and women should not be asked directly about their sexuality when applying for Life Assurance products.
  • Insurance companies will ask you about sexual behaviour and any exposure to HIV, but this is now a common question across all risk groups. Insurance companies would expect you to disclose if you had practiced unsafe sexual behaviour.
  • If you have a history of sexually transmitted infections on your medical records, then you may be asked to take a HIV test. General Practitioners are required to inform Life Assurance companies of any factors that may have long term health implications.
  • There is now a HIV testing limit of £1,000,000, which has been adopted by all Life Assurance companies for both single males and those in a civil partnership. This means if you are asked for a HIV test, then you should seek advice before proceeding with the application.
  • The average amount of Life Assurance held by gay individuals was last year reported to be £179,684* and gay individuals £198,939*. It would need a sum assured of £684,000 to meet the average gay income of £34,200* in the event of a person’s death.

If you feel that you are being treated unfairly when applying for Gay Life Assurance, Critical Illness Cover, Income Protection, or Private Medical Insurance you can share your experiences through this blog and we will endeavour to answer your questions.

If you require more specific advice on these issues, or are looking for quotation then you should contact our sponsors Compass Mortgage and Insurance Services. They are the UK’s leading mortgage and insurance specialists for the gay and HIV communities. * Source of Figures Is the Compass Gay Life Assurance report 2009, which can be found online at www.compassindependent.co.uk

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  • 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.