LGBT Insurance Discrimination Research Statistics …

Compass were recently asked to comment on statistics that were released into the LGBT Community. The Financial Times – FT Adviser, approached us for an opinion because they are aware that we were the people that ended “hardcore” discrimination towards the LGBT Community by the UK Life Insurance Industry in 2005.

We have since been helping LGBT people source the best mainstream products for their Mortgage, Life Assurance, Income Protection and Critical Illness Cover needs. It’s apparent that after over a decade of peace between the LGBT Community and the UK Life Insurance Industry, that there is a movement to give an impression that serious “Discrimination” still exists towards LGBT people.

We find it interesting that these people are using “2017 Discrimination” issues in an attempt to sell LGBT packaged and labelled products.Some of the recent statistics provided to us by the FT Adviser carried no source of sample size, but we feel they raise important issues around the way financial services are marketed to LGBT People.

  • 79% of the UK’s LGBT Population would change the way insurance companies treat their community
  • 37% of the LGBT Insurance Community do not have any form of insurance at all
  • 39% would change call centre language surrounding the assumption of a partner’s gender
  • 34% would like providers to recognise and celebrate LGBT as an important part of the community by depicting real LGBT people in adverts and promotional materials
  • 23% would like to see the LGBT community and its interests represented throughout the organisation
  • 22% would like to see their insurer actively work to end discrimination and prejudice based on sexuality

We find it concerning that the press release and  statistics we viewed did not specify the types of insurance that are covered by the survey, or the sample size or carried any regulatory warnings, which are both compulsory under Financial Conduct Authority Rules.

Compass would like to point out that for decades the LGBT Community were treated terribly by the UK Life Insurance Industry and serious issues around Compulsory HIV testing, Personal Questioning, Unequal Premiums, Speculative Underwriting based upon occupation, gay men added to the impaired Lives register and Compass worked tirelessly to removed such backward and discriminatory practices.

If you are an LGBT person looking for Life Insurance, Critical Illness Cover, Income Protection or a Mortgage, then pay special attention to the premiums, costs and terms being offered by the product provider. For example, instead of settling for a 10 year LGBT term assurance policy, seek independent financial advice and secure yourself up to 40 or 50 year term assurance.

Just because a financial product is labelled LGBT, does not mean to say that it is the best available in the market.

Compass are the UK’s leading Lesbian, Gay, Bisexual, Transgender Financial Advisers, offering advice on Gay Life Assurance, Gay Life Insurance, Gay Mortgages, HIV Life Assurance, HIV Life Insurance, HIV Mortgages.

They are also the UK’s leading experts at planning Life Assurance and Mortgages for LGBT and Alternative Families and are able to assist LGBT people looking for advice on their Pensions and Investments.

For more information about these services please contact Compass by phone 0845 474 3075. Email or visit us online at

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