Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I watched a program on PBS a few days ago. It
suggested that in order to buy Ltc insurance
you would have to get gene tested. While I
might want to know if I have the PROBABILITy
of certain diseases, I don't want toknow if
I might get Alzheimers, do you?
You're familiar with adverse selection? If the insurer just blindly takes all comers, they're likely to end up with a pool of insured with above average risk and therefore costs leading to higher premiums.
So presumably the insurer is trying to screen out the highest risk cases (where an inordinate amount of cost is likely), which should lower costs & therefore premiums, of benefit to those who are accepted for LTC insurance. Who doesn't want lower/competitive premiums?
If you are shopping for LTC insurance and company A has premiums of $X (they screen) and company B has premiums of $1.5X (no screening), both with exactly the same benefit/terms, which would you most likely purchase?
Another way to look at it...
And I'd love to know if I'm going to get Alzheimers or any major illness, it would make it much easier to plan. YMMV
You can never know absolutely. You can only know if you have certain risk factors. There are tons of genes that interact with these risk factors to either bring the risk up or down, and so far we do not know what most of these secondary genes do.
I would apply to the company that tested and if I passed and a good health diagnosis consider going with them. If I failed and was at high risk for Alzheimers I would be sure to sign up with the company that didn't test. Under that scenario however the company that didn't test would quite possibly be under water by the time I needed it.
Status:
"Then they came for Dolly"
(set 7 days ago)
Location: Baltimore, MD
5,354 posts, read 6,089,230 times
Reputation: 11024
I don't know of any insurance company at this time that requires a DNA test.
That said, you can always get tested anonymously (using a fake name) through a company such as 23andme if you would like to have the info but don't particularly want to share the results with others.
I wasn't aware that insurance companies were doing DNA-type testing on applicants, but, would consider it an advantage to know if I had a propensity for something like Alzheimer or some other genetic disorder; and would insist on a full disclosure. You don't have to buy the insurance if you don't want to.
If you 'knew' (nothing is certain), you might want to make some early-on decisions about getting travel out of the way and moving-on with your 'bucket list.' You might also be able to make better informed decisions about life insurance, estate planning, care givers, your legacy and any number of life choices ... while you were still able. Such information might add a sense of 'reality' to the old saying, "Hope for the best, but, plan for the worst."
As for knowing in advance that you MAY have a geneological propensity to acquire some deficit? That's attractive! Now you get to spend the rest of your life worrying about and self-diagnosing it. But on the bright side, you might become considered a paranoid schizophrenic and sent to the "home" before it kicks-in. No worries, Mate!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
