Life insurance premiums influenced by genetic tests

Wed, 17 Oct 2007

The results of genetic tests could lead to lower life insurance premiums . The tests in question prove or confirm that life insurance customers are more or less susceptible to hereditary illnesses. Those who are found to be not susceptible to this type of disease could be rewarded with lower health insurance or life insurance premiums .

The news was confirmed by the Association for British Insurers . Currently, insurance companies face a ban on requiring applicants to take genetic tests or reveal their results when it comes to hereditary diseases . The premium savings could be made by those who volunteer their results.

Speaking for the ABI, Jonathon French reportedly commented: "If somebody has a predictive test that is negative, they can absolutely tell their insurance company that fact, and that will be very much taken into account and used to counterbalance any family history."
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