HAPPY PRIDE SEASON … SUMMER 2018 … LGBT Insurance Survey 2018

Compass would like to take the opportunity of wishing everyone a very happy Gay Pride season. We feel that it’s sometimes important to remember people that have struggled and fought for the freedom, we are all able to enjoy in these more modern times and also take time think about people that are still living in repressed countries.

In particular we should remember the people that took part in the Stonewall Riots in New York on 28th June 1969, which was the defining moment that marked the start of the gay rights movement around the world. Throughout this summer in to across the UK there will be Pride Festivals in more towns and cities than ever before.

Here are some of the UK Pride cities for 2018 – Belfast, Blackpool, Birmingham, Brighton, Bristol, Bournemouth, Cardiff, Cornwall, Coventry, Doncaster, Eastbourne, Edinburgh, Exeter, Exnouth, Glasgow, Leeds, London and Manchester, Newcastle, Oxford, Plymouth, Reading, Southampton, Totnes will all be celebrating their Pride!

LGBT INSURANCE SURVEY 2018

Compass, the Gay Mortgage and Insurance advisers have today published their latest survey into the insurance needs of the LGBT Community. The research measured the average amount of Life Assurance currently being taken out by Lesbians, Gay Men, Bisexuals and Transgender people, including policies taken out by LGBT people living with HIV.

The current average Life Assurance plan that is taken out by the LGBT community has marginally decreased with the sum assured now £173,051. In a previous survey it was established that 76%* of Life Insurance plans taken by the LGBT Community were for the purposes of protecting a Mortgage and 24%* for Family and Partner protection.

Chris Morgan the Lead Financial Adviser at Compass Mortgage and Insurance Services, www.compassindependent.co.uk said …

‘This year the LGBT Insurance Survey has established that the amount of Insurance being taken out by the gay community has decreased slightly from £178.507* to £173,051*. This figure seems to have remained fairly constant since the introduction of new underwriting rules that guaranteed Equality for Gay Men in 2005”.

Chris continued …

‘In last year’s survey we establishing that the average term at outset of an LGBT Life Insurance was 19.2 years, with the longest policy surveyed being for 40 years. This makes a great deal of sense as the majority of policies are taken by LGBT people for Long Term Family Protection and Mortgage purposes’.

The LGBT Insurance Survey has been running since 2009 and was initially focused on monitoring the amounts of Life Insurance being taken out by LGBT Consumers. More recently the survey has researched the changing financial needs of the LGBT Community and this year there has once again been a particular focus suitability of amounts of cover suitable for LGBT applicants.

Compass is able to arrange Mortgage Life Assurance, Mortgage Life Insurance, Critical Illness Cover and Income Protection for gay men and women, Bisexuals and Transgender clients. They are also specialists at finding Mortgages and Life Assurance for people living with HIV. They can be contacted on 0845 474 3075.

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.

For more information about these services please contact Compass by phone 0845 474 3075. Email Enquiries@compassindependent.co.uk or visit us online at www.compassindependent.co.uk

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