Brits looking for cheap life insurance may be disappointed if they have previously taken genetic tests to become aware of the risk of disease development.
According to experts, the life insurance premiums for those having had taken the tests even decades before applying for an insurance policy, may soar, while others may even be rejected by insurers.
At the moment, Brits are covered by a moratorium where insurers are unable to ask potential customers about the genetic testing.
However, in 2014 the life insurance industry could turn as the agreement is set to expire.
As a result, customers may see a significant growth in the cost of the average life insurance premium.
A Spokesperson from Genewatch UK, Helen Wallace said: “There are women deciding whether to take the test now who do not know if they buy insurance later on, whether at that point the moratorium will have ended and there will be a requirement from the insurance industry to see the results.
Women do worry about the future insurance implications when they consider whether or not to take a test, so you have a specific circumstance where a medical decision that you take may be influenced by knowing whether or not the insurance industry will have access.”
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