Average Gay Life Assurance Increase …

Here’s the latest Gay Life Assurance news from our sponsors Compass …

Compass, the gay mortgage and insurance advisers have today published their latest research into the amounts of Life Assurance that gay men and women insure themselves for. The research, which follows on from similar surveys in previous years, shows that the average Life Assurance policy taken by the gay community is now £242,578*.

 This figure means that the gay community are now insuring themselves for far more than the previous year’s figures being £189,311 (2009), £217,887 (2010) and £228,524 (2011). This year the figure has grown further by an astonishing £14,000, which is a 6% annual increase on the previous year’s survey.

Compass this year have also looked at the amount of gay & lesbian people taking out Income Protection policies (accident & sickness cover), alongside their Life Assurance. They are able to report that this figure currently stands at 20%*, which is very similar to last year’s Critical Illness Cover figure of 22%*.

Compass is able to arrange Life Assurance, Critical Illness Cover, Income Protection and Private Medical Insurance for gay men and women. They are also specialists at finding mortgages and life assurance for people living with HIV, without unnecessary personal questions and blood testing.

*Chris Morgan surveyed over 100 policies taken out by gay men and women between 1st January 2011 and 31st December 2011 and recorded the sum assured of each policy. Of the people surveyed only 20% included Income Protection and only 22% included Critical Illness alongside the Life Assurance they were applying for.

*Chris Morgan surveyed over 100 policies taken out by gay men and women between 1st January 2011 and 31st December 2011 and recorded the sum assured of each policy. Of the people surveyed only 20% included Income Protection and only 22% included Critical Illness alongside the Life Assurance they were applying for.

For more infomation or advice about Gay Mortgages and Gay Life Assurance visit our sponsors website at http://www.compassindependent.co.uk/  phone us on 0845 474 3075 or email us at enquiries@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.