Checklist for Life and Disability Insurance for LGBTQ+ Community
Jun 6, 2023
Jamie Fleischner

Jamie Fleischner

6 Jun, 2023

When considering life and disability insurance for LGBTQ individuals, it’s important to focus on finding coverage that meets your specific needs. While there isn’t a separate checklist specifically for LGBTQ individuals, there are several key factors to consider when selecting insurance coverage. Here’s a checklist that can help guide you:

  1. Research insurance providers: Look for insurance companies that have a reputation for being inclusive and supportive of LGBTQ individuals. Seek out companies that have LGBTQ-friendly policies, diverse staff, and non-discriminatory practices.
  2. Understand your insurance needs: Determine the amount of coverage you require based on your financial obligations and dependents. Evaluate whether you need both life insurance and disability insurance, or if one type of coverage would be sufficient.
  3. Compare policy options: Obtain quotes from multiple insurance providers and compare the terms, coverage, and premiums. Pay attention to factors like the length of coverage, payout amounts, waiting periods for disability benefits, and any exclusions or limitations that may apply.
  4. Consider transgender-specific coverage: If you are transgender, research whether the policies cover transition-related care, including hormone therapy, gender-affirming surgeries, and mental health support.
  5. Review medical underwriting practices: Inquire about the insurance company’s approach to underwriting, as some may have outdated or discriminatory practices when assessing applications from LGBTQ individuals. Look for companies that use inclusive and non-biased underwriting guidelines.
  6. Understand policy exclusions: Carefully read the policy documents to identify any exclusions related to sexual orientation, gender identity, or HIV status. Avoid policies with discriminatory language or exclusions that may impact your coverage.
  7. Seek expert advice: Consult with an insurance agent or financial advisor who has experience working with LGBTQ individuals. They can help you navigate the insurance landscape and provide personalized recommendations based on your circumstances.
  8. Consider estate planning: If you’re in a same-sex relationship or have non-biological children, consider estate planning to ensure that your insurance benefits are distributed according to your wishes. Consult with an attorney who specializes in LGBTQ estate planning to assist you.
  9. Review beneficiary designations: Regularly review and update your beneficiary designations to ensure they reflect your current wishes. This is especially important if your relationship status or family structure changes.
  10. Be aware of legal protections: Familiarize yourself with the legal protections for LGBTQ individuals in your jurisdiction. Understanding your rights and protections can help you make informed decisions and advocate for fair treatment.

Insurance needs can vary depending on your personal circumstances and goals. It’s crucial to carefully evaluate policies, read the fine print, and seek professional advice to ensure you select the best coverage for your needs.


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