Is Genetic Testing Making Waves in the Industry?

Nov 30, 2018

Over the holiday weekend, our team found an at-home DNA kit was selling for only $80 on a popular online shopping site. For less than $100, a person could find out their ancestral origins and see any underlying health conditions their genes may hold. It should come as no surprise then that at-home DNA kits topped the Global Consumer Trends this year. But what implications come with this influx of genetic data available at our fingertips?

Ten years ago, the Genetic Information Nondiscrimination Act was introduced and passed into law. It banned employers and health insurance companies from discriminating against applicants based on their voluntary participation in genetic testing. This act was a big step in regulating misuse of genetic information. However, this law does not regulate life insurance companies. So, where does that leave your prospects who have done genetic tests?

Life Insurance companies may opt into using the data in these genetic tests to evaluate medical risk when they are reviewing an individual for coverage. If pre-existing conditions or genetic risks show up, it could lead to more expensive payments for your client. For example, if a genetic test comes back showing that an individual carries the BRCA1 gene (linked to a potential for developing Parkinson’s disease), they could be declined or given a higher premium.

As of right now, genetic tests are low on the list of factors in underwriting. Genetic screening is not required on applications and a small fraction of companies offer it as an option. Your clients can still ride the trend of doing at-home DNA test without worrying how it will affect their premium payment. Companies still take a much larger interest in an applicant’s medical history and family medical history. With that in mind, now would be a good time to brush up on our Underwriting Guide that will break down what each carrier looks for in their underwriting process.


Category: Life Insurance

Category List

Tag List

Fixed Annuities (8)
Retirement Strategy (4)
injury (1)
Income Planning Academy (1)
PPC (2)
premium deposit account (1)
social security (1)
Annuity Update Show (11)
Life Insurance Update Show (9)
Roth (1)
march madness (1)
Gender Gap (1)
Prospecting (3)
hiring (6)
Brokers (2)
Insurance (21)
Generation Y (1)
term life (7)
Premium Finance (3)
Health Care (1)
Advice (1)
Healthy Living (1)
leads (5)
Life Insurance Check Up (6)
Social Optimization (3)
review (1)
Brand Values (1)
Gift (1)
Breast Cancer Awareness Month (4)
resources (1)
funeral (1)
trends (1)
Interest Rates (1)
Leaderboard (1)
Market Exposure (1)
Benefits (1)
Life Insurance Trends (18)
Long-Term Care Awareness Month (1)
Production (1)
Long Term Care (3)
Webinar (1)
Cash Value (1)
Legacy (1)
MYGA (9)
Life Insurance Evaluation (8)
Best Rates (1)
Tax Benefits (2)
Retirement Planning (22)
case studies (2)
Life Insurance Awareness Month (6)
Social Media (7)
Life Insurance Broker (15)
Video On-Demand (1)
Breast Cancer Research (1)
Millennials (6)
Indexed Annuity (3)
RMD (1)
advanced planning (1)
Financial Planning (19)
final expense (1)
Additional Earning (1)
Growth Opportunity (1)
Life Insurance (81)
IUL (12)
Immediate Fixed Annuities (1)
Brokers Alliance (8)
Alternatives (4)
Sales Concepts (10)
Deferred Fixed Annuities (1)
Content Building (2)
PIA (2)
consumer marketing (1)
Annuity Concepts (12)
Facebook (2)
Pitch (1)
living benefits (6)
Media (2)
Retirement Investment (4)
Clients (2)
Looking Forward, Giving Back (1)
rates (1)
FIA (1)
Investments (2)
Death Benefit (1)
Waste Management Open (1)
Financial (4)
Alternative Investments (2)
Marketing (12)
Life Quotes (2)
DOL (2)
IRA (1)
term (5)
Variable Annuities (1)
Legacy Planning (1)
Charity (2)
Tips (2)
Income (1)
Brokers Alliance Open (1)
non-med (2)
gul (2)
Universal Life Insurance (2)
Required Minimum Distribution (1)
Star Wars (1)
Protection (1)
Retirement (10)
Annuities (29)
Training Event (1)
illness (1)
Charitable Giving (2)
Baby Boomers (1)
Donation (1)
Sales (18)
Life Insurance Brokers (6)
products (5)
Financial Legacy (6)
underwriting (1)

Tag Cloud

Social MediaSocial OptimizationFinancial LegacyRetirementratesRetirement InvestmentillnesstermSalesMYGALong-Term Care Awareness MonthLooking Forward, Giving BackreviewBenefitsBaby BoomersWaste Management OpentrendsAdviceBrokersfuneralFinancial PlanningSales ConceptsTipsRMDLegacyFIAPIAIRALife Insurance Brokersmarch madnessGrowth OpportunityImmediate Fixed Annuitiesresourcessocial securitycase studiesRetirement PlanninggulFacebookMillennialsBrand ValuesVideo On-DemandLife QuotesLife Insurance TrendsLife InsuranceTraining EventHealthy LivingLeaderboardFixed Annuitiesadvanced planningClientshiringTax BenefitsCash ValuePremium FinanceDeferred Fixed AnnuitiesMarketingleadsIULLong Term Carepremium deposit accountPitchContent BuildingLegacy PlanningproductsRetirement StrategyIndexed AnnuityLife Insurance Awareness MonthDonationIncome Planning Academyconsumer marketingGiftAnnuity ConceptsAdditional EarningBrokers AllianceLife Insurance Check UpProspectingAlternativesGender GapInterest RatesProductionLife Insurance BrokerCharitable GivinginjuryDOLLife Insurance EvaluationAnnuitiesPPCMediaAlternative InvestmentsGeneration YBrokers Alliance OpenBest Ratesterm lifeFinancialAnnuity Update ShowunderwritingUniversal Life InsuranceBreast Cancer ResearchWebinarRothLife Insurance Update Showfinal expenseProtectionBreast Cancer Awareness MonthHealth Carenon-medMarket ExposureRequired Minimum DistributionIncomeliving benefitsStar WarsCharityInvestmentsDeath BenefitInsuranceVariable Annuities