The Importance of Life Insurance and Wills In The LGBTQ Community
Years ago I attended a funeral for a trans friend that died in a car accident. In addition to tragedy of her dying, she didn't have life insurance and HER family buried HER as a guy. Her boyfriend was banned from the service and the family and funeral home enforced a dress code according to gender. I was outraged, but I also came to the shocking realization that I needed a life insurance policy and a will if I didn't want my family to mistreat my body or my friends in the event that I passed early. So what do you need to know?
When a life insurance company accepts an application for a life insurance policy they take many things into consideration before issuing a policy. Every thing from your current health status to what you do for a living to your life style. Life style includes a wide range of things from subdividing, skydiving, racing cars and to even being gay. Back in the day insurance company’s use to load or charge more premium if you were living a gay life style and it was mainly because of the risk factor when AIDS first hit and ninety percent of its victims were from the LGBT community and finding lgbt insurance agents.
And it was not just the life insurance industry dealing with this underwriting dilemma it also affected the disability insurance market as well. I have a female client who is an interior designer and wants a disability policy but is going to have to pay more for her profession because it is a prominently an industry populated by gays and they can not single out males so they load the whole profession. But the good news is that in today’s life insurance market they will underwrite you with preferred rates.
I’ve been in the life insurance business long enough to find out an occasion when life insurance coverage companies would outright deny life insurance policies policies for homosexual couples, citing “no legal financial justification”. They might then turn around and approve insurance on an unmarried couple by saying,“just put down that they are engaged”lgbt insurance issues.
With the recent shootings in Florida, Orlando on June 12, 2016 when Mateen opened fire early Sunday morning at a “gay” nightclub in Orlando, killing at least 50 people and wounding another 53 in what is being described as the deadliest mass shooting in U.S. history.One has to ask will the insurance company’s start loading policy’s again? Reported hate crimes committed against individuals for their sexual orientation increased in 2007 to 1,265, the highest level in five years. Of all hate crimes reported in 2007, the proportion committed against lesbian, gay, bisexual, and transgender (LGBT) individuals rose to 16.6 percent, also the greatest level in 5 years. In accordance with the FBI’s HCSA reports, gay men and lesbians have consistently been the third most frequent target of hate violence within the last decade.
The Pink Pistols, an LBGTQ group dedicated to protecting the gun rights of gay and transgendered individuals, has issued a response to the Orlando terror attack and to calls for gun bans. The group is urging the public not to jump to conclusions and to focus on the violent acts carried out by ISIS follower Omar Mateen, not on the tool he used.
The wife of the man who killed 49 people at a gay nightclub in Orlando Sunday may have been aware of his plans and tried to talk him out of it, according to media reports.Noor Mateen, the wife of Omar Mateen, has told investigators that she drove him to the Pulse nightclub at least once to check it out and that she was with him when he purchased ammunition.”He certainly expressed some interest in the Pulse nightclub to his wife,””It’s possible that she may never be charged,”
A former classmate of Orlando mass shooting suspect Omar Mateen has confirmed to American media outlets that Mateen was gay and ‘used gay dating sites’.
The former classmate, who concealed his identity, narrated that Mateen and his classmates would hang out at gay nightclubs after classes at the Indian River Community College Police Academy. He even told the press that Mateen ‘asked him out romantically’. However, Mateen and the former buddy were ‘not out’ and he disguised his sexuality to many people.“We went to a few gay bars with him, and I was not out at the time, so I declined his offer.Mateen was frequently using West on Jack’d, a dating site for gays.“He was open with his picture on the sites, he was easy to recognize,” said 23-year-old Cord Cedeno, who also elucidated that he was also contacted by Mateen last year in the dating app.Kevin West, a regular at the Pulse gay nightclub, admitted that Mateen messaged him ‘on and off for a year’ on the same dating app.However, Mateen’s father Seddique told local news site The Post on Monday that his son was not gay.According to reports, Mateen was also a regular customer at the nightclub, where the heinous massacre took place in the wee hours of Sunday, killing 49 and injuring 53 others, marking the bloodiest and most atrocious shooting rampage in US history.“It’s the same guy,” Chris Callen,lgbt life insurance.
The group is also urging local lawmakers to reconsider allowing sober drivers to carry firearms into bars and clubs in the future for self-defense purposes.
“Some bars and other establishments that serve alcohol are difficult to protect because many states forbid the carrying of weapons where alcohol is served, but that just as one might have a designated driver who stays sober, one might have a designated carrier with a concealed-carry permit who goes armed and does not drink,” the group posted on it’s website.“It’s sad that we must consider such things, but when there are persons out there who mean us harm, we must find ways to protect ourselves within the law,”
Omar Mateen’s father is now saying Pulse nightclub should share the blame for his son’s massacre of 49 innocent people.Seddique Mateen made that unbelievable statement after inviting reporters to his home in Port St. Lucie, FL. He believes the club was woefully unprepared for the number of patrons it had that night.”We simply can’t find the words to respond to such a callous comment from the father of the man who perpetrated this heinous act.”
Caused by this upsurge in hate crimes predicated on sexual orientation is heightened fear and insecurity among LGBT individuals. Says Candace Nichols associated with the Gay and Lesbian Community Center of Southern Nevada, “Every time I have into an elevator with individuals, if i am not on my own, I make certain i am with a buddy. Whenever I go right to the bathroom, i usually be sure someone is by using me, and that is not something I used to do.””Until we address the root factors that cause bias toward (LGBT) people, we’ll carry on and have hate perpetrated against us,” says Shawna Virago, an application director when it comes to San Francisco advocacy group Community United Against Violence.Progressive insurance lgbt
Both in crime and law, hate crimes (also referred to as bias-motivated crimes) occur when a perpetrator targets a victim as a result of his or her perceived membership in a certain social group. Samples of such groups include but they are not restricted to: race, religion, ethnicity, sexual orientation, or gender identity.
CNN reported that on Oct. 28, 2009, President Obama signed one U.S. Federal law, a legislation named for just two teenage boys who had been murdered with hate coming to least area of the motivation. The balance, known as the Matthew Shepard and James Byrd, Jr. Hate Crimes Prevention Act was the very first U.S. Federal hate crime legislation.
The expression “hate crime” first appeared in American news reports of violence fond of African-Americans, Asians, and Jewish people, during the 1980s in America. The Federal Bureau of Investigation (FBI) officially defines a hate crime, (also referred to as bias crime), given that following:
“A criminal offense committed against a person, property, or society that is motivated, in whole or perhaps in part, because of the offender’s bias against a race, religion, disability, sexual orientation, or ethnicity/national origin.”
The expression “hate crime” involved with America as a way of describing these crimes. Other countries have legislation related to similar kinds of crimes yet try not to specifically relate to them as “hate crimes.” Under U.S. law, the victim of a hate crime may be an individual, a company, an institution (such as for example a location for religious observances or a school), or the victim might be society.
This eventually evolved to an occasion when companies would allow a policy provided that the gay couple could prove that they had a joint mortgage. They would then only insure each for up to half of the mortgage. The unmarried, “engaged” couple didn’t need certainly to prove anything. They, similar to a married couple, could get a multiple of their annual income recognizing that the principal reason for term life insurance is income replacement.
So, let’s cut to the core for the matter. Yes, I will be stating that couples in homosexual relationships could possibly get adequate life insurance policies today underwritten just like everyone else, according to health. It’s a little hard for an organization to discriminate on one side and support on the other side. The whole world has become more fair.
Drinking and smoking, as an example, are typical directly linked to a large number of diseases and medical ailments. So insurance firms habitually charge higher premiums. But non-smokers, non-drinkers and people who exercise get better rates compared to those that don’t practice such healthy lifestyle choices.
When assessing a life insurance coverage application from a same-sex couple, an insurance provider’s underwriter will likely to be required to take many different information under consideration. Along with the usual information required for assessment—details regarding your age, gender, lifestyle habits, occupation, health background etc—insurers may request that you provide some additional information.
If an insurer decides that you will be at a higher than average risk of contracting HIV, you may need to provide more info or undergo extra testing to determine the risk you pose into the insurer. It’s important to point out, however, that anti-discrimination legislation means that insurers is only able to make a distinction about someone’s risk in case it is supported by reasonable and relevant evidence such as for instance actuarial or statistical information.
Prudential Financial is known to be the initial major insurance carrier in America to provide life insurance policies to HIV positive people. The move reflects the fact that many individuals with HIV, with the aid of medication, can live a lifespan much like those uninfected because of the virus. You would like what’s best for you and your family. As we celebrate the countless positive changes that impact the LGBT community, we’re also mindful for the shifting policies that will impact your financial future. We are able to help you better understand which choices are open to you as well as your family — and our dedicated Insurance Professionals will allow you to arrange for an even more secure future.
After the IRS ruling and the repeal of a key provision of the Defense of Marriage Act by the Supreme Court, it’s a requirement that financial advisers start to reconsider the role of life insurance as it currently stands for trust and estate plans in same-sex relationships. Recently, the Treasury Department and the IRS announced Revenue Ruling 2013-17 which broadens the terms ‘husband and wife’ and ‘spouse’ and incorporates same-sex couples for federal tax purposes.
If you should be in a non-legal heterosexual relationship or a same sex relationship, and desire to allow for your lover in the case of your death, it’s possible to name your partner as beneficiary of your life insurance. Even though it is relatively easy for a Will to become contested, it is more challenging and expensive (though not impossible) for nearest and dearest to contest the distribution of life insurance policies proceeds.
In order to avoid questions regarding your relationship (and potential problems with the life insurance provider) list the beneficiary by name only. If the insurance company insists on asking the relationship, “friend” fits.
Should you want to name an individual as beneficiary of a group life insurance policy, however you don’t want to reveal the information and knowledge to your employer, leave the income “to my estate” or even to a trust. If you leave the amount of money to your estate, your Will determines who gets the money. Make sure your Will leaves the funds into the intended person.