Celebrating Pride Month

As Pride Month unfolds, it is an opportunity to celebrate the contributions of the LGBTQ+ community in various fields, including the actuarial profession. It wasn’t until after I met with Craig Chu, FSA, EA, MAAA, FCA, pension actuary and president of the Sexuality & Gender Alliance of Actuaries (SAGAA), that I learned about the fascinating and important mortality-related data points for the LGBTQ+ community that could be of interest to actuaries. Here are five to delve into:

1. Life expectancy disparities. Studies suggest that LGBTQ+ individuals may experience different life expectancy trends due to disparities in healthcare access, discrimination and mental health challenges. For example, transgender individuals, especially trans women of color, have significantly higher mortality rates due to violence, healthcare discrimination and suicide risks.
2. Suicide and mental health risks. LGBTQ+ youth are 4 times more likely to attempt suicide compared to their heterosexual and cisgender peers. Older LGBTQ+ adults also face higher rates of depression and social isolation, which can impact mortality rates.
3. HIV/AIDS mortality trends. While medical advancements have greatly improved HIV/AIDS survival rates, certain populations within the LGBTQ+ community (especially Black and Latino gay and bisexual men) still face higher mortality due to late diagnoses and disparities in treatment access.
4. Cancer and chronic disease risks. Higher rates of smoking and substance use among LGBTQ+ individuals contribute to increased risks of lung cancer and other chronic diseases. Lesbians and bisexual women may have higher breast cancer risks due to lower screening rates and other health factors.
5. Lack of sexual orientation data. Research shows that sexual orientation is not routinely collected in U.S. death records, making it difficult to track mortality disparities.

Craig, along with members of the SAGAA board, prepared a presentation for a sponsoring organization regarding individuals living with HIV and AIDS that was presented at the 2024 Society of Actuaries ValAct Meeting. “Biases, HIV and Insurance,” by David Daly and Jonah von der Embse, won the Outstanding Session Award. Three takeaways from the presentation:

1. More than 70% of HIV-positive individuals identify as LGBTQ+.
2. Less than half of Americans are aware that HIV can be treated and, with proper treatment, can become intransmissible. In fact, individuals living with HIV can have similar life expectancies to the general population. This is not always reflected in coverage practices.
3. In most states, “HIV status” is not a class legally protected from discrimination, including within the insurance market.

Details on SAGAA

Part of SAGAA’s mission is to facilitate connections between LGBTQ+ actuaries and allies, and educate members of the broader actuarial profession and the public about the importance of LGBTQ+ inclusion.

“Like the other actuarial affinity groups, we work to enhance visibility and opportunities for our community of LGBTQ+ actuaries and allies, while also recognizing the unique intersections of LGBTQ+ issues with actuarial work,” said Craig. “We believe that advocating for the needs of LGBTQ+ individuals is a vital part of our commitment to advancing inclusivity for all marginalized communities within the actuarial profession.”

SAGAA has Regulatory/Advocacy and Research/Education committees to drive progress. “SAGAA has certainly helped my personal fulfillment and personal mission to ‘leave the world a better place than I found it,’” added Craig, “and I’m really excited to see what we can accomplish together.”

Statements of fact and opinions expressed herein are those of the individual authors and are not necessarily those of the Society of Actuaries or the respective authors’ employers.

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