Life Insurance -
IFA: Gay men should have equal life insurance rights - 04/10/2007
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Life insurance should be equal for gay and straight customers alike, Ruth Whitehead Associates said yesterday.
The independent financial advisor said that to only offer higher life insurance premiums to gay males was discriminatory, as anybody could engage in high-risk sexual activity.
Ruth Whitehead, its founder, said: "You don't have to be exclusively gay - heterosexuals do it. The HIV and Aids rise is amongst the heterosexual community."
The Association of British Insurers (ABI), in an attempt to counteract complaints from gay men that the insurance industry was weighted against them, issued a new Statement of Best Practice in 2005.
It ruled that the so-called 'gay question', asked by insurers to life insurance purchasers, was to be phased out.
Ruth Whitehead added that the statement was a "good thing" because what would previously happen was that "the gay man would get the form and fill in all the questions and say that he was gay.
"Then he would get, immediately and irrespective of his lifestyle, either a decline of his request for health cover or life cover, or a quadrupling of the premium automatically by an idiot actuary who didn't understand the difference between lifestyle and sexual practice."
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