Have you tried one of those direct-to-consumer gene testing kits yet? They reveal your genetic make-up— like 45% Scandinavian or 20% Asian. But they may also reveal some things you’d rather were kept secret. It turns out home gene testing kits can become an obstacle to getting certain types of insurance. Rob West talks about that on this edition of MoneyWise Live.
2017 was a huge year for the companies selling home gene kits. They doubled the total number sold to date - something north of 12 million kits.
That means 1 in 25 US adults now have access to their genetic make-up but unfortunately it also means some insurance companies can get that information too.
Aren't health insurance companies prohibited from using that information against us?
Who’s likely to have a problem with this when applying for long term care insurance and the like?
If you buy a kit and discover that you're 1/2 Irish and a 1/4 Native American. That doesn’t mean I have to share whatever the test reveals to insurance companies, does it?
Next, Rob and Steve answer some listener questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:
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