I’m part of the LGBTQ+ community. Can I get life insurance?

At Zurich we understand that not everyone ticks the same boxes when it comes to gender, sexual orientation or sex characteristics. That’s why we’re adapting what we do to be more flexible and relevant for the LGBTQ+ community.

We also understand that you may not be confident about applying for life insurance. So let’s go through some of the common questions we’re asked by members of the LGBTQ+ community.

Can LGBTQ+ people get life insurance?

The short answer is yes. At Zurich, we don’t exclude you from applying for life insurance because of your gender identity, sexual orientation or sex characteristics.

Australia’s anti-discrimination laws mean you should never be declined insurance cover or offered non-standard terms on a policy (for example, having some conditions excluded or having to pay higher premiums) simply because you’re part of the LGBTQ+ community.

That doesn’t mean every person who applies for life insurance will be accepted, but the rejection may be because of factors such as their occupation, hobbies or a health condition, not their gender identity or sexuality.

Will I have to answer awkward questions?

Most insurers will ask about your health, occupation and lifestyle when you apply for life insurance. This helps establish your personal risk factors – in other words, how likely it is that you’ll make a claim. This process happens for all applicants.

You may need to provide details of any current medical conditions, past illnesses or surgeries. You’ll also be asked about your lifestyle – if you smoke or take drugs, or have higher-risk hobbies such as parachuting – as that may make you susceptible to illnesses or injuries in the future.

These risk factors determine what type of cover your insurer can offer, and how much that cover will cost.

Will gender be a factor if I’m trans or gender-diverse?

This will depend on which insurer you choose to apply for cover through. Some insurers ask for sex (at birth) on their application and some for gender. 

At Zurich this isn’t an issue. We’ve updated our application process so trans and gender-diverse customers can apply in the gender that best suits them.

We’ve also updated our processes so our existing trans customers can record their affirmed gender on their policy. 

Can I get life insurance if I’m HIV positive?

Being HIV positive used to mean you couldn’t get most types of life insurance in Australia. But with improvements in medical treatment, and a better understanding of the illness, that’s changed. If you are living with HIV, are well controlled on treatment and maintaining a low viral load, you may be eligible for life insurance cover.

At Zurich, we have no built-in HIV-related exclusions. We consider all types of life insurance cover for a person living with HIV, and assess each application on your individual circumstances. A person living with HIV is able to apply for all types of life insurance cover we offer and each application will be assessed on individual circumstances.

 

What types of life insurance can I apply for?

At Zurich we offer four types of life insurance.

• Death benefit – This provides a payment to your beneficiaries or estate if you pass away. It means your loved ones will be looked after financially if you’re no longer around. It will also provide a payment to you if you’re diagnosed with a terminal illness and have less than 24 or 12 months to live. In that case, payments are made to the policy owner or super fund member, not the beneficiaries.
• Income protection –If you’re temporarily unable to work because of an injury or illness, income protection cover provides a monthly payment to support you.
• Trauma cover – This provides a payment if you suffer a defined trauma condition covered by the policy, such as Stage 2 cancer or a heart attack. This payment can help relieve financial stress while you’re in recovery. 
• Total and permanent disability (TPD) cover – If you become totally and permanently disabled and cannot work, this provides a payment to support your quality of life and help cover expenses associated with long-term disability.

The best way to find out which covers are most suitable for you – and how much of each you need – is to talk to a financial advise.

A financial adviser can help you navigate the differences between life insurers when it comes to policies and procedures as they relate to LGBTQ+ community members.

Will I get a hard time if I make a claim?

Insurers aren’t here to give you a hard time. In 2021, Australia’s insurers paid out the majority of life insurance claims in every category, including income protection and, total and permanent disability cover¹

When you make a claim at Zurich, we’re happy to answer any questions you have about the process. We’ll explain what information we need and what it’s for, and what to expect during the claims process.

The claims process looks at the exact nature of your claim, if it’s covered by your policy terms, and that it doesn’t conflict with what was in your original application. (For example, it’s not due to a pre-existing condition you didn’t disclose on your application.)

We may need to get medical, financial or occupational information from you to help with our financial underwriting decisions.

We’ll assess your claim in a transparent, thorough and fair way – with no prejudice against you as a member of the LGBTQ+ community.

Can I get life insurance without answering a lot of questions?

If you are an employee you may be able to get life insurance cover automatically through your superannuation. You’ll be offered a default level of cover based on a general risk assessment of people in your age group and occupation. This means you won’t have to answer a lot of questions about your individual circumstances, but the amount of cover you get may be less.If you have debts or dependants, you may find the level of cover isn’t enough to meet your financial obligations or let you maintain a comfortable lifestyle if you get sick or injured.

If you decide you want additional cover (outside your superannuation) and take out another life insurance policy, it’s likely you’ll have to answer questions to assess your personal risk factors when you apply.