If you're wondering whether you can get life insurance if you're transgender, the answer is yes. Applying for life insurance as a transgender person may or may not be challenging, depending on several factors. Many life insurance companies have little experience interacting with—and underwriting policies for—transgender applicants. Here's what we've learned about how applying for an individual 澳洲幸运5官方开奖结果体彩网:life insurance policy works when you're transgender.

ꦦChoosing a Gender ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚon Your Life Insurance Application

One of the first questions on many life insurance applications is whether you're male or female. The reason is that there's a historical correlation between life expectancy and sex assigned at birth. In the United States, the Social Security Administration's actuarial life tables show that a man who was 40 in 2021 would be expected to live to around age 77, on average, while a woman who was 40 in 2021 could be expected to reach age 81.

However, life insurers take a variety of approaches in collecting and using sex and gender information, according to a 2021 survey from the Society of Actuaries (SOA). Some may not differentiate between sex and gender, while others may specifically ask about your sex, your gender, or your sex at birth on their application.

As of that 2021 survey, 73% of respondents said they didn't change their 澳洲幸运5官方开奖结果体彩网:underwriting classification, which determines the premiums you pay, based on sex at birth versus current gender.

With some insurers, whether you have had 澳洲幸运5官方开奖结果体彩网:gender-affirming surgery and how much time has passed since the surgery can determine which gender category they will use for you.

Jake Tamarkin, co-founder and CEO of the insurance brokerage Everyday Life Insurance, says his firm uses the term "sex at birth" in working with clients. "We approached all of our underwriting partners on their expectations about this, and all told us they expect applicants to provide their biological sex on their birth certificate. For that reason, I was surprised to see in the SOA survey that half of the U.S. companies surveyed considered current gender," he said. "None of my underwriting partners do, and they are all well-established, reasonably large companies.” 

So, if you decide that you only want to work with a company that ignores the gender you were assigned at birth, it may take some hunting around for the right insurer. Alternatively, you might prefer to work with whichever company offers you the best insurance coverage at the best price, regardless of how they categorize your gender.

Gender-Affirmin🧜g Health⛦care and Life Insurance Underwriting

Life insurance underwriting takes numerous factors into account, so any single factor—whether it's gender, hormone therapy, or surgical history—may not end up playing a central role in setting your your premiums. Among the factors insurers consider:

• Age
• Occupation
• Blood pressure
• Build (height and weight)
• Cholesterol
• Physical health history
• Mental health history
• Surgical history
• Family health history
• Prescription history
• Chronic health conditions
• Tobacco, marijuana, and opioid use
• Driving record
• Criminal record
• Bankruptcy
• Travel to dangerous countries
• Participation in high-risk recreation

Each of these factors can affect how lonཧg someone might live.

That said, the gender category a life insurer assign🧔s you can matter when it comes to at least three factors: blood♔ pressure, cholesterol, and build. The numbers that are considered ideal for these factors are different for men and women with some life insurers.

Your Surgical History

In reviewing your medical records, an insurance underwriter may learn about any gender-affirming surgeries you have had. However, the reason for this is not discrimination against transgender people. Instead, your rates could be affected based on life insurance companies' data about the impact of these surgeries on life expectancy.

Gender affirming surgery can take ♋a variety of forms and some have been better studied than other in terms of their impact on mortality. In addition, many patients today are so young that it will take many 𒉰years before the effects of the surgery (if any) become evident.

Munich Re Canada, a major reinsurance company, noted an overall increased mortality among patients receiving gender-affirming surgery, citing a 2011 Swedish study that followed up with patients who'd had the surgery an average of 10 years earlier. However, it also observed that other studies had found evidence that "gender reassignment improves quality of life and psychosocial outcomes."

Your Prescription History

Not all transgender people take gender-affirming hormones. But for those that do, it's important to know that hormone use may lead to side effects that can affect life insurance premiums.

As with gender-affirming surgery, the data on hormone use and mortal☂ity arಌe limited and sometimes contradictory.

A 2023 study involving transgender and gender diverse adults in England reported that, "Limited evidence suggests that estrogen use may increase the risk of myocardial infarction and ischemic stroke in transgender women." In addition, transgender men appeared to have a two-fold and four-fold "increased rate of myocardial infarction compared with cisgender men and cisgender women, respectively, likely due to testosterone therapy and chronic stress resulting from discrimination and minoritized status."

How Certain Health Conditions Affect Premiums

A 2021 survey found that transgender respondents were more likely than others to rate their health as "fair/poor." Transgender people are also more likely to deal with certain health conditions, including HIV, emphysema, and ulcers, according to the survey. Even among those with health insurance, many may avoid seeking medical care, with cost concerns cited as a top reason.

Less-than-optimal health can mean you'll pay higher life insurance premiums or may have difficulty finding coverage. For example, an HIV diagnosis is more common in transgender women than in the general population. If that's your situation, it may prevent you from getting approved for medically underwritten life insurance.

Studies have found that suicides and suicide attempts are also more common in the transgender population than in the general population. Increased suicide risk could lead to higher life insurance premiums—for example, a suicide attempt within the past two years or hospitalization for a mental disorder within the past year can make you uninsurable until enough time has passed without incident.

That being said, when an applicant has a mental health condition, such as mild to moderate depression, that is well managed, it might not affect their premiums. The impact also depends on the insurance company, as some may be comfortable giving preferred rates to an applicant with depression while others may not.

Alternatives to Medical Underwriting

Suppose you don't want insurance companies looking at your medical records and don't want to answer any health questions. In that case, you could purchase a non-medically underwritten policy, such as guaranteed issue life insurance. Still, you will pay more for the same dollar amount of coverage and may not be covered at all until a two- or three-year waiting💜 period is up. These policies aren't as good as regular policies because they are designed for people in poor 🧸health who present a high risk to insurers.

A less drastic, but still inferior, option would be to get a policy that requires you to answer health questions but does not require a medical exam, such as 澳洲幸运5官方开奖结果体彩网:final expense insurance, a type of 澳洲幸运5官方开奖结果体彩网:whole life coverage. You can also get 澳洲幸运5官方开奖结果体彩网:term coverage without a medical exam in some cases.

Tips for Transgender Life Insurance Applicants

If possible, get group life insurance through an employer so you don't have to answer questions about your medical history or have your medical records scrutinized. But be aware that you might not be able to secure enough coverage this way, and you might lose your coverage if you stop working for that employer.

Working with a life insurance broker sensitive to the unique needs of transgender applicants could make the process easier. A good broker will be familiar with different insurers' underwriting guidelines and can help you apply with the companies most likely to give you the best coverage at the best rates and with the smoothest application process. Another plus: Working with a broker is free.

If you'd rather go it alone, you might want to seek out an insurance company known for its fair treatment of the LGBTQ community. The Human Rights Campaign (HRC) Foundation, for example, produces a Corporate Equality Index of companies across various industries that are top-rated as workplaces for LGBTQ individuals. Similarly, the Sexuality and Gender Alliance of Actuaries' (SAGAA) list of sponsors could be another good starting place.

The Bottom Line

When life insurance companies gain more experience interacting with and writing policies for trans applic𝕴ants, the life insurance application process may change. In the meantime, navigating the process might go more smoothly if you work with a trans-inclusive life insurance agent or broker who can help explain your options.