You are possibily going to want life insurance cover if you wish to insure your health or your income should you happen to be sick and unable to work – something which is predominatly imperative for single people or those with children, in addition to a similar-sex partner.
Besides there are episodes, like buying a house, when life assurance may be called for.
Insurers may wish to know if you are gay. They will insist that you complete an application questionnaire which would necessitate details on whether your live-in partner is in the homosexual grouping.
The enquiry may not be instant but the insurance company will later on send out an intrusive document on lifestyle.
It would be a mistake not to disclose information or to provide false details but this would only serve to invalidate your insurance and is therefore a very bad idea. Besides, this may produce significant difficulties if you decide to better your premium and approach other insurance companies for a quote.
Once the application document has been completed, you could then be requested to endure a blood test to find out if you are Human Immunodeficiency Virus (HIV) positive. There isn’t any predetermined rules on testing and insurers are reasonably hit and miss in their selection process.
If your test for HIV proves positive, it will be problematic to buy products linked to life insurance. Purely by having the blood test alone can result in a refusal of cover by some insurance companies, even if the test result is negative.
Althouth you pass all the relevant tests satisfactorily various insurance companies will in spite of everything double or treble your monthly payments. A lot of companies will be adamant that they want Human Immunodeficiency Virus (HIV) testing for homosexual men who apply for income payment protection policies or critical illness policies although neither would pay out for an Human Immunodeficiency Virus (HIV) related claim.
Richard Meyer, of Carvosso & Co, a financial adviser based in Chester, says: ‘It’s horrible knowing the insurer can claim ownership to some of your blood when all you want is quotes for mortgage cover.” Unsurprisingly the test can be distressing.
He suggests that you take the test on your terms prior to going to an insurer. To avoid life assurance companies being allowed admittance to sections of your medical records, some people advocate obtaing drug or STD treatment at secret medical centres which are to be found in almost every city or town. The National Aids Helpline or the Carrington and Parr Trust will be able to assist you in locating the right one.
There is currently an agreement among The ABI and The British Medical Association (BMA) whereby the medical profession should not be asked to give details on Sexually Transmitted Infections and negative Human Immunodeficiency Virus tests. New procedures will make the risk assessment agreed to by insurance more modern by ensuring that careful sexual behaviour, sooner than sexuality, is the criterion.
Even though it might be quite a while before new guidelines are completely implemented, gay applicants can normally still obtain the insurance cover they necessitate even in the present system. Independent financial professionals, focusing in gay finance can generally find insurance cover without testing and on nearly the same requisites that apply to heterosexual applicants.
If you are heterosexual and looking for a good deal, shopping on-line could well generate some of the cheapest quotations.