Genetic information and risk classification in individual life and health insurance

Advances in genetic technology have focused attention on whether an insurer should be allowed to incorporate genetic information in its risk classification system. Numerous states now restrict the right of an insurer to use genetic information in this way. Criteria are identified for determining whe...

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Bibliographic Details
Published in:Journal of financial service professionals 1998-09, Vol.52 (5), p.44
Main Authors: Warfel, William J, Mikolaj, Peter, Hamwi, Alex
Format: Article
Language:English
Subjects:
Adverse selection
Blood pressure
Classification
Criteria
Disability insurance
Family medical history
Genetic testing
Genetics
Health insurance
HIV
Human immunodeficiency virus
Huntingtons disease
Insurance coverage
Insurance policies
Legislation
Life insurance
Risk assessment
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Summary:Advances in genetic technology have focused attention on whether an insurer should be allowed to incorporate genetic information in its risk classification system. Numerous states now restrict the right of an insurer to use genetic information in this way. Criteria are identified for determining whether an insurer should be allowed to incorporate genetic information in its risk classification system with respect to individual medical expense, disability, and life insurance policies. It is concluded that legislation restricting the right of an insurer to incorporate genetic information in its risk classification system should apply only where such information is actuarially inequitable, is administratively inefficient, has no incentive value, and/or is socially unacceptable.
ISSN:1537-1816
2381-8875