INSURANCE GAP: GAY PEOPLE DRASTICALLY UNDERINSURED
Over a third (37%) of the LGBT community, as compared to 25% of the overall population, do not have any form of insurance. This equates to more than 800,000 gay and lesbian adults1 in the UK without any form of insurance. The figure rises even further when LGBT couples become parents, according to the latest YouGov research commissioned by Emerald Life, the UK’s first full-service insurance provider tailored to the LGBT community.
Emerald Life’s independent research has uncovered a signfiicant inequality of experience when buying insurance, ranging from product features that don’t suit, online tick box options that fail to reflect diversity or call centre scripts that are inappropriate for the community. The 37% insurance gap is 50% higher than the national average. The research suggests this, together with the historical poor treatment of the LGBT community by the insurance sector, could be switching off gay and lesbian adults from buying policies that they may need to better protect themselves and the things they love.
Emerald Life commissioned two YouGov polls to capture the sentiment of the LGBT community towards insurance and life needs. The first study of over 1,000 adults looked at community attitudes around the UK and the second survey of 2,000 adults compared LGBT attitudes with their straight counterparts and figures for the UK population at large.