Insurers' genetic testing moratorium to continue

clock

Insurers have agreed to continue not using genetic test results for the vast majority of insurance policies until 2017.

It means that only life insurance policies for over £500,000 (currently around 3% of all those sold) will be eligible for genetic testing. The ABI announced that its Concordat and Moratorium on Genetics, agreed with the Department of Health, would continue as present. Above the £500,000 amount, insurers will not use adverse predictive genetic test results unless the test has been specifically approved by the government. The only test that is approved is for Huntington's Disease. Nick Starling, the ABI's Director of General Insurance and Health, said: "The Concordat and Moratoriu...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Record protection payouts must spur advisers on

Record protection payouts must spur advisers on

These aren't products that sell themselves

Ahmed Bawa
clock 01 November 2024 • 5 min read
Could a broader advice definition boost protection's reach?

Could a broader advice definition boost protection's reach?

'No one wakes up in the morning thinking about buying life insurance'

Paul Yates
clock 22 October 2024 • 4 min read
Are we talking enough about protection and succession planning?

Are we talking enough about protection and succession planning?

Why are more IHT liabilities for gifts not being protected?

Naomi Greatorex
clock 30 September 2024 • 4 min read