Life Insurance Search

The Association of British Insurers (ABI) has revealed that a moratorium on consumers having to provide details of predictive genetic tests when applying for life insurance will be extended until 2014.

There are some exceptions to this. The calculation of premiums for life insurance policies worth more than £500,000, critical illness cover worth more than £300,000 and income protection policies worth more than £30,000 a year will take predictive tests into account, but only those that are approved by the government.

There is little indication as to whether life insurers will continue this moratorium post-2014, but it is clear that they will allow consumers who have obtained favourable results from predictive tests to include this information.

Prospective policyholders will still be required to submit information about significant family health problems.

Stephen Hadrell, Director General of the ABI commented on the announcement, "It means people can insure themselves and their families, even if they have had an adverse result from a predictive genetic test.

"The moratorium has proved effective since its introduction in 2001 and can now continue.”

The life insurance industry will review their stance again in 2011.