Three-quarters (74%) of gay men and women take out Life Insurance to protect their home or mortgage, research has found.
Compass Mortgage and Insurance Services' Gay Insurance Survey 2014 found the remaining quarter (26%) have taken out life Insurance to provide protection for either a child or a partner.
The results are "remarkable" when considering how difficult the housing market has been over the last few years, Compass said.
Chris Morgan, marketing manager at Compass Mortgage and Insurance Services said: "This year we decided to do something different for the Gay Insurance Survey to highlight the importance of protecting a person's home and mortgage. We were very surprised that the percentage of people taking Mortgage Life Assurance is so high considering the housing market has been so difficult over the last few years".
Compass also established that 26% of gay men and women are taking out Critical Illness Cover, which is an improvement on last year's percentage of 19%.
Last year's survey established that the average Critical Illness Policy being taken out by the Gay and Lesbian community was £182,477.
In 2013 The Gay Insurance Survey established that the average Gay Critical Illness Policy was £182,477. In 2011 The Gay Life Assurance Survey recorded the percentage of people taking Critical Illness Cover at 22% and in 2012 The Gay Insurance Survey recorded this same percentage at 19%.
Morgan continued: ‘We hope that by highlighting this research we can encourage more people within the Gay and Lesbian community to protect their mortgage and homes with Life Assurance and to also encourage people to consider protecting their mortgages against the effects of serious illness with Critical Illness Cover."
