Security for All Shades of Love: Ensuring Security and Equality for All 👨‍❤️‍👨👩‍❤️‍👩

Life insurance is a universal safeguard, a promise of protection for the future. Regardless of sexual orientation or gender identity, it provides everyone the means to shield their loved ones from financial stress during unexpected turns in life. It cushions loved ones from financial hardship in the event of the unexpected death of a breadwinner – providing essential support in such times.

It’s an indispensable tool that offers everyone, including members of the LGBTQ+ community, a reliable means of ensuring financial security for their dependents. As we celebrate Pride Month this June, let’s delve into key factors that LGBTQ+ individuals should consider when choosing a life insurance policy.

Life Insurance: An Inclusive Shield for All 🛡️

Every individual, regardless of sexual orientation or gender identity, deserves the opportunity to safeguard their life and secure a better future for themselves and their loved ones. When it comes to life insurance, sexual orientation or gender identity should not be factors affecting your eligibility. Insurance applications are evaluated based on age, health, lifestyle choices, and other underwriting criteria.

Honesty in Personal Information Disclosure 📝

Disclosure of sexual orientation or gender identity does not impact your insurance application. However, it's important to provide accurate and honest information regarding your health and lifestyle, such as revealing gender-affirming surgeries. Such transparency is key in ensuring efficient claim settlements. Rest assured, your personal data will always be treated with respect and absolute confidentiality.

Here's a guide that can come handy while filling life insurance forms.

The Freedom of Nomination 👫

As per Indian law, individuals can nominate any person of their choice in their life insurance policy. So as an LGBTQ individual, you have the freedom to designate your same-sex spouse or live-in partner as the beneficiary of your life insurance policy. This ensures that they receive the policy's death benefit, providing them with financial security and stability in the future.

Choosing the Best Policy for You ✅

While a term insurance plan is an absolute must in anyone’s insurance portfolio, you can also opt for a savings insurance policy if you aim to combine financial protection with guaranteed savings.

With the Supreme Court allowing unmarried couples, including queer couples to adopt children, it’s important to consider their financial future as well. Savings insurance plans are a great way to build a financial reservoir for your adopted children.

These plans provide financial protection and ensure that your children have funds available for their education, health, and other needs as they grow.

You can read more on term vs savings to find the right fit for you. If you have a clear goal, choosing the right plan becomes easier.

Find the right plan for you today.

At Bandhan Life, our goal is to ensure that financial protection is accessible and affordable, regardless of age, gender, or occupation. We believe in equality and inclusivity, and everyone should be able to protect their loved ones and achieve financial security.

Our commitment to non-discrimination ensures that you receive fair treatment and the financial security you deserve. Check out our best-selling term insurance policy iTerm Prime and start securing your loved ones today!