In addition to celebrating the LGBTQ community during Pride Month this June, LIMRA is also looking to raise awareness among LGBTQ individuals and all Americans about the need for products like life insurance and disability income insurance that can provide financial security for themselves and their loved ones.
Data suggest that LGBTQ Americans continue to lag behind the general population when it comes to finances. Nearly half (46%) of the lesbian, gay, bisexual, transgender and queer or questioning community LIMRA surveyed say saving enough for a comfortable retirement is a concern, but only 23% of LGBTQ workers are very confident they know how much they should be saving.
Half of LGBTQ consumers (48%) surveyed are worried about being able to support themselves if they become ill or injured and unable to work, but only 14% say they own disability insurance.
While 68% of LGBTQ individuals surveyed believe they need life insurance, just 38% report having coverage. LGBTQ consumers surveyed were more likely to say the reason they haven’t purchased coverage is because they had other financial priorities or felt life insurance was too expensive. In fact, lack of knowledge is one of the biggest obstacles for this market and others. Only a quarter of LGBTQ Americans surveyed feel very or extremely knowledgeable about life insurance and three quarters overestimated the cost of life insurance.
Research finds COVID-19 continues to influence all Americans’ perceptions about life insurance. One in three say COVID-19 has made them more likely to purchase coverage. However, LGBTQ consumers surveyed were more likely to say the pandemic prompted them to actually purchase coverage. One in five LGBTQ consumers surveyed said the pandemic prompted them to purchase coverage; five points higher than the general population.
Still, the need remains high. Half of LGBTQ Americans surveyed ― representing 10 million adults — recognize their life insurance coverage is insufficient and 43% say they are likely to purchase coverage within the next year, compared with just 37% of the general population.
For more information on the LGBTQ community and their perceptions about finances, view LIMRA’s LGBTQ American Market fact sheet and the Helping LGBTQ Americans Achieve Holistic Financial Security infographic.
I'm happy to help anyone, regardless of their race, gender, sexual orientation, height, food preference, food allergies, hair color, or political preference.
I try to just help everyone and treat everyone the same, regardless of whatever. Apparently I am wrong to do that, and keep being told to focus on things I just don't think are that important or relevant, like race or sexual orientation.
I guess I'm just old fashioned, or maybe just out of touch.
I have a younger Marine Veteran buddy. I have been to her home multiple times, we recently went to a carshow at another American Legion Post together and I introduced her as my date.
She is a home owner and single mom with joint custody of one of her two children. She also happens to be a Lesbian. If I sat with her to talk insurance who she sleeps with probably isn't going to be on my check list.
I guess I just Ain't Woke enough.
Oh, oh, oh, and she is a ' ***** Person of color'. So I guess I need to put more weight towards her race than her sex partners, crap, she is a female so I need to put more weight on her Chromosomes than on race.
Dang, I guess need to go back to training to unlearn everything.
You mean you just treat her like a fellow human being and didn't focus on who she is sleeping with, or her race? Did you even ask her pronouns you piece of crap!?!?!?!?
Shame on you for treating her like an equal fellow human. Shame on you.
:twitchy::D:D
She is genuinely one of the best people I know.
Let me also say I absolutely defend her right to be and love anyone she chooses. Same if some guy wants to wear a dress. Cool, do you. I just will not allow some newly woke Pronoun tell me how to think.
Anyway, do they have some specific needs? Sure, same as domestic partners, or mixed marriages, special needs parents, and so on and so on.
We do our jobs regardless of the distraction of the day.
I am very particular with whom I do business with!
Regardless of what color they identify with, their money must be green, or I'm outta there. :laugh:
It's amazing how much diversity that my book has acquired over the years.
Ain't that the truth, and for a guy with ADD, it's often the hardest part of my job… keeping me focused.
Are you serious?
100% serious. I have met a few really nice guys that are flaming (their words) cross dressers. Referrals from their families, I wrote them. I have also walked out of bikerish trashed out houses with Dixie flags and pits chained out front swastikas inside. I pick my clients, they do not pick me.
I go by the character of the person. I don't care what they wear. Or who they sleep with.
Oh yeah, lol, I'm super racist when it comes to that part.
Racist is an overused watered-down term used many times by racists.
Same.
Well, except for life insurance agents. Those guys are creeps.