News Life and Health21 Nov 2018

Australia:Most say insurers should stop asking about genetic tests

21 Nov 2018

Life insurers should be banned from asking consumers whether they have taken a genetic test, according to the latest readership survey by the website Financial Standard.

The majority (62%) of respondents said they "agree" or "strongly agree" that life insurers should stop asking applicants whether they have undertaken a genetic test. Only 28% of respondents disagreed with this statement.

The survey was conducted at a time when the Financial Services Council announced it would establish a moratorium on insurers using genetic test results as part of insurance applications on 1 July 2019.

From this date, consumers will be able to receive up to A$500,000 ($362,200) in life insurance cover without having to disclose an adverse genetic test result. The moratorium is expected to be in place until 30 June 2024.


 

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