Genetic information and life insurance

Multiplex genetic testing will have important consequences for the insurance companies. According to the US Institute of Medicine's Committee on Assessing Genetic Risks, genetic testing will soon become a common medical practice and will make traditional pathological tests redundant. The DNA-based technology has the potential of predicting diseases whose symptoms have not developed at the time of test. People may take advantage of this fact and get insured. However, denying genetic information to insurance companies could seriously jeopardize both the company and the beneficiary financially.