Ten Years of Expanded Rights for LGBTQ+ Beneficiaries at Lifenet Insurance

Celebrating a Decade of LGBTQ+ Inclusivity at Lifenet Life Insurance

In November 2015, Lifenet Life Insurance Company made a significant change in the landscape of life insurance by allowing same-sex partners to be designated as beneficiaries for death benefits. This decision marked a pivotal moment, responding to inquiries and requests from customers who wished to protect their partners under life insurance policies. Initially, the rules were stringent, allowing for beneficiaries to be limited to legally recognized spouses or blood relatives within two degrees of kinship. However, acknowledging the shifts in social attitudes towards LGBTQ+ partnerships, Lifenet expanded these rights under specific conditions such as cohabitation.

This initiative was met with widespread approval including emotional feedback from policyholders expressing joy and gratitude for having the opportunity to choose their loved ones as beneficiaries. The change has since led to a noticeable increase in individuals opting to designate same-sex partners in their insurance agreements.