We’ve all seen those commercials from companies like ancestory.com com offering to do genetic testing. But did you know the results could keep you from getting life insurance??
No matter if you want to find out your unborn baby’s likelihood of a genetic disorder or you want to find out where your ancestors were from, life insurance companies want to see the results.
“They’re looking to identify what type of risks they might be incurring â€” what medications and treatments might be the most effective in managing my overall care,” insurance strategist Seth Denson says.
DensonÂ says even though life and long-term insurance companies want to know what kinds of conditions you could be prone to, it’s not necessarily because they want to help you.
“They’re trying to understand what is the probability in paying out a claim on you. And, newsflash, insurance companies aren’t interested in losing money,” he says.
That means you can be denied a life insurance policy if they decide you could cost them too much.
But if you did a test at home, how would they even know about the results??
“These companies that are selling you information about yourself and your ancestry are utilizing that same information to sell to the open market,” Denson explains.
So basically, your results aren’t private. And while the Genetic Information Non-discrimination Act â€” or GINA â€” says you can’t be denied health insurance or pay more because of your genetic makeup, that doesn’t include life insurance policies.
At the end of the day, Denson suggests you be careful with your information. In some cases, getting genetic testing is necessary, but in others…
“If it’s just to gather information for your own amusement, not saying it’s wrong, just saying it might be something you want to be aware of before you go out there into the Twittersphere and post everything about yourself.” he says.