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Same Sex Marriage: Considerations for insurance agents
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Same Sex Marriage: Considerations for insurance agents

Last month's 5-4 Supreme Court Obergefell v. Hodges ruling that gave the green light to same-sex marriages meant that many employers had to rethink or adjust various benefit programs. The ruling also has implications for insurance products. We've rounded up several resources that point out many of the issues that insurance agents need to be aware of in advising clients.

Bill Wilson in Independent Agent (IA), What the Same-Sex Marriage Ruling Means for P-C Insurance

On June 26 in Obergefell v. Hodges, the U.S. Supreme Court ruled in favor of same-sex marriage in a 5-4 decision.

What does the ruling mean for you and your customers? And what are the property-casualty coverage implications?

As always, you need to review the specific policy in question to determine how it addresses terms like “marriage,” “spouse” and “family member.” If it’s not an ISO form, hopefully the underwriting carrier has considered the implications and can provide guidance.

But for ISO forms, here’s what you should keep in mind in the aftermath of the Supreme Court ruling

The article discusses:

  • ISO Personal Auto Policy (PAP)
  • ISO Homeowners Policies
  • Commercial Lines
  •  

    Robert Bloink and William H. Byrnes,  LifeHealthPro, What the same-sex marriage ruling means for insurance agents

    The Supreme Court ruling legalizing marriage in all states for same-sex couples is a landmark decision in the equal rights arena. However, the ruling also has important financial and tax implications — implications that same-sex clients now need to be advised upon in order to avoid any planning surprises down the road. While the ruling eliminates the patchwork of state-specific rules that could confuse even the most competent financial advisor, it is critical that advisors in all states familiarize themselves with the important planning issues that same-sex couples now need to consider — whether or not they have chosen to marry. Some of the issues are fairly simple and well-settled, but the subtleties and complexities of the rules need to be considered in order for same-sex married couples to make informed planning decisions going forward.

    The article discusses:

    • Estate and gift tax issues
    • Income tax
    • Social Security
    • Retirement accounts
    • Life Insurance
    • Health Insurance
    •  

      Additional resources

      How Supreme Court Gay Marriage Ruling Affects Employee Benefit Plans

      Supreme Court on Marriage Equality: What Employers Need to Know

      7 things employers need to know about the same-sex marriage decision

      Employers rethink benefits after gay marriage ruling

      What You Need to Know Employment Discrimination After the Same-Sex Marriage Ruling

      Same-Sex Marriage Simplifies Some Tax and Insurance Issues, Complicates Others

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