Life insurance policy - Homosexual couples still treated unequally
What’s changed?
The introduction of the civil partnership Act was supposed to be the money of change when gay couples would be recognised as equal to heterosexual couples in all ways of life. However, it seems that the financial market is lagging slightly in terms of this. Originally, gay people were quoted more for life insurance quotes as they are still considered single rather than in a marriage. Therefore, the majority of gay men are paying over the odds for their life insurance as they are still being charged premium, single male rates and the civil partnership is not being taken into account.
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HIV plays a factor in this
A number of firms have asked gay men to take an HIV test if they are applying for a premium of over £250,000. In the case of heterosexuals, they are often not asked to provide such tests unless their premium application is for over £500,000.
Is discrimination still apparent?
The whole aim of the civil rights act was to eliminate discrimination due to sexuality. However, the argument is still there that in fact, the insurance industry still considers sexuality as a key component when offering a life insurance premium.
Other areas involving sexuality discrimination
Due to how new the civil partnership act is, people and business are still becoming used to exactly what it means and how to handle it, in a politically correct manner. However, in light of it, it is not as bigger deal as the financial markets have made out to be. With gay couples now able to adopt, companies should be able to recognise gay couples as equal and offer them the same life insurance policies as heterosexual couples.
Is life insurance the only area of discrimination?
There are so many considerations taken into account for anybody, not just gay couples when applying for life insurance. Therefore, it makes it very difficult to see the fine line between insurers carrying out regular questions or whether they are being asked because of a person’s sexuality. However, it is important to realise that in business as a whole, the gay community are recognised as equal and that it is only due to the specifics of life insurance that may appear to be discrimination.
If you and your partner are currently looking for life insurance, whether homosexual or heterosexual then call Jump Life Insurance as they have been providing financial products for over a decade and are always striving to make sure the product you choose is exactly what you need. Call now on 0844 417 0894 or visit their website at www.jumplifeinsurance.co.uk