How to Find Transgender Life Insurance

Transgender life insurance

Searching for life insurance as a transgender individual is complicated, but the good news is more insurance companies are updating their coverage policies, and transgender life insurance is now a thing.

Can I get transgender life insurance coverage?

Things are getting better for all LGBT people. You can not only get transgender life insurance, but some carriers benefit you more as a transgender person depending on your goals for coverage. Let’s look at which carriers are the most trans friendly and give you an idea of how insurance carriers view and underwrite transgender life insurance coverage.

What type of life insurance is best for me?

There are two types of life insurance, term life and whole life. Term life insurance lasts for a specified length of time. Whole life will last your entire life.

Term life insurance is best for 90% of those who want life insurance. That’s due to the amount of coverage you can purchase with small premiums. I recently asked over 40 experts about which coverage is best, term versus whole life insurance. An overwhelming majority of respondents chose term life insurance.

When you start searching for life insurance quotes, most rates you’ll see online are for term life insurance. For this article, my research and outreach focus on term life insurance.

Do insurance carriers recognize me as who I am?

There’s no single answer to how insurance carriers will underwrite you. Every insurance company will have different underwriting guidelines. Some are more conducive to the transgender community than others.

Some carriers follow state guidelines, specific to where you live. An insurance agent can get the specifics for you from each insurance carrier.

Gender is a significant factor when getting life insurance quotes, along with age, health and tobacco usage. All things being equal, rates for men are higher than rates for women. The reason is that women typically live longer than men.

That said, you must decide what’s most important to you. Is getting the lowest insurance rate possible more important to you or is getting coverage based on your gender identity? I reached out to ten of the top life insurance carriers and asked what sex they would assign a transgender person. Below are the results:

Insurance Carrier

Gender AssignmentAdditional Notes

Accordia Life

Based on gender at birth

N/A

Allianz Life

Based on gender at birth

N/A

Assurity Life

Based on gender at birth

N/A

Haven Life

Based on gender identity

Haven Life and MassMutual believe in gender inclusivity

John Hancock

Based on gender at birth

If reassignment surgery has been completed, will underwrite based on reassignment

Principal Life

Based on gender identity

N/A

PrudentialBased on gender identity

Carrier will underwrite for gender at birth with specific conditions, such as breast cancer for a trans male

Sagicor Life

Based on gender at birth

N/A

Standard Life

Based on identifying gender

If medical interventions have been initiated to help them adapt to being their new gender

TransAmericaBased on gender at birth

If reassignment surgery has been completed, will underwrite based on reassignment

Each carrier has its own policy for how it’ll determine your insurability and underwrite your policy. I was amazed by the results and shocked that 80% of these carriers stated that I was the first person to inquire about transgender life insurance.

Be aware of the types of questions you’ll be asked. Each carrier wants to know:

  • Did you have gender reassignment surgery? If so, how long has it been since the surgery?
  • Have you undergone psychological treatment to assist you with your gender identity transition?
  • Do you suffer from gender specific medical conditions?

Examples of gender-specific medical conditions include breast cancer and testicular cancer. Someone transitioning from male to female could have had testicular cancer and someone transitioning from female to male could have had breast cancer.

Are there more friendly carriers than others for transgender life insurance?

Haven Life, Principal and Prudential are the more trans friendly insurance carriers and will acknowledge your gender identity. To be clear, all the carriers on this list are trans friendly. It’s just that these three have better transgender life insurance policies.

These three carriers are great starting points for getting coverage, as they have the fewest restrictions on how they’ll identify your gender in their underwriting.

Do I need to work with an insurance agent to get insurance coverage?

No, but you probably should.

There are newer carriers, such as Ladder Life and Haven Life, that offer life insurance without needing an agent. However, depending on your situation, it might be best to go through an insurance agent.

Trust me, I understand. Talking about your situation isn’t always be easy.

If you’re a part of the LGBTQ community like me, you likely deal with the assumption that if you’re male, your spouse is female and vice versa. I’m always in correction mode. The difference with purchasing transgender life insurance is that licensed agents, such as me, are bound by Health Insurance Portability and Accountability Act (HIPAA) guidelines and privacy laws. Insurance carriers also hold us accountable for doing our best with each client.

The best way to talk to an insurance agent is to be honest, up front and hold nothing back. The agent is like your doctor or lawyer; they won’t judge you or make you uncomfortable. They only want to get you the best insurance coverage for you and your family. GLADD has an excellent resource for teaching people about the transgender community. Email this guide to your agent if you think it’ll help them better understand you.

If you are up front with your insurance agent, they can place you with the carrier that best fits yours and your family’s needs.

Get your transgender life insurance

We’ve come a long way as a community. As we enter this new arena of transgender acceptance, there will be many more questions, and hopefully, we’ll get to a streamlined process with which gender identity won’t be a factor in the underwriting process. Until then, we still need life insurance to cover ourselves for our families and loved ones.

No matter your situation, you need life insurance. If you need help starting the process or have questions, please contact me.

This is a guest post by our friend, JC Matthews. Matthews is the Co-Founder & CEO of Simply Insurance. He is a licensed life and health insurance agent with over nine years of experience in the industry. He is an entrepreneur, insurance educator, field underwriter and nascent writer. Matthews is on a Journey to get one million families insured.

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