Life Insurance and Hereditary Implications

Barely a week seems to pass these days without a little scare-mongering in the media – usually a new factor being linked to an increased chance of disease. Too little exercise, too much red meat, not enough water and too much coffee have all, one way or another, been linked to serious illnesses in recent times.

Incredibly, the latest research suggests that people living near ‘airport noise’ face an increased risk of heart disease in later life.

But of course for many people, the real risk of disease comes not from plane noise or even red meat. It comes from within their own family, in the form of hereditary conditions and faulty genes passed down through generations.

Just as health insurers often won’t cover pre-existing conditions, life insurers may baulk at providing cover for illnesses or diseases they deem you likely to develop owing to hereditary factors.

That said, if you’re aware of a genetic condition or medical history in your family, it’s crucial that you don’t hide that information from your insurer. Most insurers will still cover you – and even if it means higher premiums, it’s preferable to having a payout cancelled due to non-disclosure.

Life insurance for hereditary medical conditions

With the improvements in medical technology now available to insurers, calculating risk carries a scientific approach. Before offering life insurance terms to somebody with a history of disease in the family, they may therefore request you undergo a medical examination or possibly a test to assess your genetic make-up to see whether you are carrying the 'faulty' gene.

It’s rare for this to happen, but rest assured that if it does, it doesn’t necessarily mean your premiums going up.

For the most comfortable quote process though, seek out a specialist life insurer that’s used to dealing with high-risk family insurance conditions. Not only might they offer you the right terms and advice, they’ll also take a thorough approach to ensure you’re fully protected, although not necessarily for the inherited medical problem.

QuoteRack offers you access to independent financial advisers who are familiar with the processes involved in obtaining life insurance where there is a potential implication from a family history. So you can start the ball rolling on your life insurance by completing the online enquiry form - there is no commitment nor obligation.