As you first consider applying for life insurance, be sure to read about the industry today and the new decisions affecting insurance. One of the topics to look at is the sharing of genetic information. Today most life insurance providers in the US today are not using genetic information for underwriting decisions. However, Genomeweb.com’s Pharmacogenomics Reporter shows some life insurance insights today that legal restrictions about using genetic information may eventually come to an end.
For a long time, the rights of consumers have been protected through some national laws. However, through the lobbying efforts of a Maryland-based interest group, changes may happen to the Genetics Information Non-discrimination Act (GINA) of 2008. This law restricted health insurance that was based on genetics. However, life insurance continues to free from the GINA. Also, life insurance insights reveal that many states have not restricted using genetic information in life insurance underwriting.
The League of Life and Health Insurers of Maryland, wants the freedom to share genetic information. They do not want the state of Maryland to be able to pass a law that would restrict sharing this information, claiming that genetic information is the same as other clinical data. When you share genetic information with insurance companies, your coverage would change and this process would also affect new people applying for life insurance. Such useful life insurance insights are helpful in figuring out the right coverage for you.
