Same Sex Marriage

On June 26, 2015, the United States Supreme Court ruled in favor of same-sex marriage. As a result same-sex couples have the same rights as heterosexual couples have. A few of those rights are:

Social Security

Now same-sex couples have spousal rights to social security. If one spouse did not work, he/she can now receive a benefit of 50% of the working partner’s benefit. Before the court ruling, this benefit was only for heterosexual couples.

Establish Insurable Interest Life Insurance

In the past, same-sex couples had to establish insurable interest when getting life insurance because they had no legal responsibility for each other. Now, when they marry, they establish insurable interest and can name each other as the beneficiary.

Health Insurance

Health insurance companies that offer coverage to heterosexual couples must offer the same coverage to same-sex couples. Same-sex couples will be treated as a family and will be eligible for such plans. One of the most important changes is that spouses will be able to receive medical information on a hospitalized spouse. Now the spouse can make medical decisions for the spouse. In years before some parents or siblings would cut the life-long partner out of making medical decisions. Some would even go as far as stopping visits for their life-long partner. With this ruling that will no longer be the case.

There are many other benefits that same-sex couples who marry will have, such as filing a joint tax return, qualifying for a home loan as a spouse, borrowing money together, and community property rules. As time goes by, we will see all the changes and benefits.

If you have any questions about the changes that deal with life insurance, health insurance, annuities, or any other type of insurance, I will be happy to help. Landeche Insurance Agency 504-228-7184 or 800-528-7184.

For more info on life insurance visit our life insurance page.

For more info on Health Insurance visit our Health Insurance page.