Queercompany.com says life offices discriminate against gay men and women
The life insurance industry is failing to offer non-discriminatory life insurance to gay men and women, according to a survey conducted by online gay lifestyle magazine Queercompany.com.
The survey, which researched the underwriting attitudes of 20 life insurance companies, found that every provider displayed discrimination against gay men and women. Results revealed that 40% failed to offer a joint policy to a same sex couple, 50% attached coverage exemptions or additional charges for gay men and women and 60% insisted on gay men taking an HIV test before offering any level of life cover.
Ivan Massow, chairman of specialist IFA, Massow Rainbow Group, said the results were predictable and although there is discrimination in the industry, good value cover is available with effective broking. 'We have been specialising in life insurance for gay men and women for 10 years, so the results of this survey are no surprise to us. Life insurance companies are still able to broke life insurance to gay men and women. It can be more expensive, but we can often get standard rates. There are sympathetic companies out there,' said Massow.
Specialist IFA Phil Carvosso, proprietor at Carvosso & Co, said that discrimination of life offices has led to many clients lying about their sexual orientation. 'High street companies seem to be the worst in terms of loadings but the main problem is with the lifestyle questionnaire, where gay men and women have to take a HIV test. I would expect that around 50% of people lie about their sexuality so they do not have to fill in the questionnaire.'
Responding to the survey, Steve Muir, marketing manager at AXA Sun Life, said it does not discriminate, but provides the best level of cover possible after assessing risk. 'We treat single gay men in the same way as people who travel abroad regularly ' with more stringent underwriting because of the increased risk of them coming into contact with HIV. When it comes to same sex couples, we treat them in the same way as we would a heterosexual common law man and wife. The industry is constantly reassessing medical advances for HIV, all of which we take into consideration when underwriting,' he said.
Zurich Life confirmed that it does not offer life insurance for single gay men, however, it does offer cover for same sex couples.
