My father passed away last year from pancreatic cancer and my mother has a history of breast cancer. They both tested negative for genetic cancer, but my doctor recommended to get genetic testing myself just to be sure, and also to check before having kids.
I do not have life insurance through my employer, so I have been considering getting an outside plan.
33F, non-smoker, non-drinker. Biggest medical issue is endometriosis and mental health issues.
Fingers crossed for nothing to show up on the genetic testing, but if it’s unfavorable, and I don’t have a policy in place, will they increase the premium?
If you’re scheduled for genetic testing, the insurance company will want to see the results before offering coverage. If the results are good, your premium won’t change. If the results are bad, they may adjust your premiums. Some states don’t allow companies to raise premiums based on genetic tests, but most companies will still want to review the results.
The point is that it’s already been recommended by your doctor and therefore in your medical records and will be visible by the insurer if they pull them. Insurers don’t like when any testing has been recommended but not completed.
It’s a good idea to secure a policy before getting genetic testing, as it could impact your premiums. Getting insurance first can provide peace of mind while you await your test results.
How old were your parents when they were diagnosed? If they were under 60 and had those types of cancer, you’ll likely be limited to Standard rates rather than Preferred.
Genetic testing is a tricky area in underwriting right now. Some states don’t allow it to affect your rates, while others do. But insurers will likely focus on your parents’ cancer history.
If you’re working with an independent broker or agent, ask them to send your health and family history to Lincoln. They are a reliable insurance company that doesn’t consider family cancer history.