Our Sponsors … Compass are the UK’s leading financial advisers offering advice around Gay Life Assurance, Gay Life Insurance, Critical Illness Cover, Gay Income Protection and Gay Mortgages. Our advisers have been looking after Lesbian, Gay, Bi Sexual and Transgender people for over 15 years and they led the campaign to get LGBT equality in the insurance industry in the United Kingdom.
Our lead financial adviser Chris Morgan represented the consumer within the Industry Working group that led directly to the removal of the “Gay Question” on Insurance applications and removal of HIV Testing for Gay applicants. He also Co-wrote the original HIV and Insurance guidelines that are widely used within the UK Insurance Industry today.
We regularly update our research into the Insurance needs of the LGBT community. Our latest survey shows that, 74% of gay men and women take out Life Insurance to protect their home or mortgage, with the remaining 26% taking out Life Insurance to provide protection for either a child or a partner.
One of the less documented uses for Gay Life Assurance is for Business Protection or Key Person insurance as it is also called in the Business and Corporate world. Key Person Insurance provides money that allows a business to continue should anything happen to a key shareholder, director or employee of the business.
Compass have been contacted a number of times by business people looking to protect their new Business Mortgage, Commercial Finance or Private Equity Deal. Business Bank and Commercial money lenders quite often make Life Assurance a condition of lending, which can make life difficult for LGBT business people, particularly for those who are HIV Positive.
Compass have saved a number of commercial deals by arranging Life Assurance for our LGBT clients. Chris Morgan our lead financial adviser is highly experienced at arranging life assurance in both individual and commercial circumstances. Here’s some examples of his recent work.
In one recent commercial case we arranged £2,000,000 of Life Assurance for a client who needed the insurance to meet the requirements of his private equity investors and partners. In another business case we arranged £250,000 of HIV life Assurance for a client taking out a Commercial Mortgage with his Business Banking Manager to buy a hotel.
In both cases Compass were the key to meeting the lenders conditions, allowing our clients to complete both business deals. If you are a business person who is concerned about getting business life assurance, please call us to find out more about how we can help?
If you require more information on Gay Life Assurance, Gay Life Insurance, Gay Mortgages & HIV Life Assurance, HIV Life Insurance, HIV Mortgages you can contact our sponsors Compass Mortgage & Insurance Services on 0845 474 3075, or email at Enquiries@compassindependent.co.uk or on the web at www.compassindependent.co.uk