1800 244 735

Helpline (02) 9874 9777

Insurance Breakthrough

Temporary changes – so don’t delay!

WORDS LEWIS  KAPLAN

Following work done by genetic consumer organisations in the UK, the Moratorium on genetic tests in Life insurance came into effect in Australia from 1 July 2019 and will end on 30 June 2024. This means that from 1 July 2019, there will be a temporary suspension on the use of genetic test results as part of an insurance application up to the value of $500,000 (for death and total permanent disability), $200,000 for trauma and $4,000 a month for income protection.

While this is nowhere near as generous as in the UK, it’s a breakthrough of sorts. More details can be found here. If you don’t have access to the internet, here’s a summary, or contact us for the full fact sheet:

Private health insurance is not based on a risk assessment of your health. You will not be asked about genetic test results or your family history of health conditions.

Life insurance products such as cover for death, disability, trauma and income protection are based on a risk assessment (underwritten contracts). This may impact on the cost or terms of the policy.

  • You are not required to have a genetic test as part of the risk assessment when applying for life insurance.
  • If you do have a genetic test, your life insurance company must not use your genetic test results (up to the financial limits set above) unless you choose to declare them.

You may be asked

  • Your age, gender, current health and medical history, including any signs, symptoms and any diagnosed conditions you have had or continue to have, even if diagnosed through a genetic test;
  • The results of medical tests you have had;
  • Any health conditions that have been diagnosed in your first-degree relatives (parents, children, brothers, sisters) only and the age they were;
  • You are not required to provide any other information about your first-degree relatives including their genetic test result(s) if known to you, their name or date of birth.

THE LIFE INSURANCE PRODUCTS ARE guaranteed renewable

  • As long as the premiums are paid, you do not have to notify the insurer of any change in your health or of the results of any medical or genetic test taken after your policy has started.

A genetic test undertaken after  a policy has been secured that shows you have not inherited the faulty gene in the family, and you choose to declare the results, means that the impact of a family history may be removed from your risk assessment  that  informed  the cost and terms of the contract. Contact your insurer to discuss this.

The Moratorium does not apply to existing life insurance policies.

Involve your family doctor, medical or genetics specialist if necessary, in negotiations with the insurance company.

 

 

 

 

You already voted!
Share on facebook
Share on twitter
Share on pinterest
Share on email

Search for more articles

Audience

Topics

RESULTS FILTERED BY:

Dancing at the Vatican documentary

Dancing at the Vatican is an inspirational documentary telling the story of a seemingly impossible journey made by families bound by the same devastating, genetically inherited disease, Huntington's. The film captures this pivotal moment of hope for Huntington's Disease families in a film that will lift spirits after the ravages of 2020; showing that if enough people who refuse to give in, come together, anything is possible.

Huntington Study Group education

HSG and its members offer free educational opportunities to providers so they can offer quality care to their patients and families impacted by HD.

Clinical trials: your questions answered

This leaflet has been produced by Roche, in consultation with Huntington’s disease organisations, to provide basic information on clinical trials of medicines.

HD News Spring 2020

Read our HD News Spring 2020 edition.

National Carers Week 2020

Replay the free online webinars and self-care and wellbeing workshops for carers conducted during Carers Week 2020.

A Caregiver’s Handbook for Advanced-Stage Huntington Disease – Pollard, J. (ed.) 1999

The aim of this book is to familiarise carers with Huntington's disease, so that they can recognise its symptoms and know what to expect as it progresses.
It also includes general principles of care and tips that other carers have found useful.