Genetic testing has been heralded as a medical breakthrough, allowing individuals to find out if they are in high risk groups for health issues such as obesity or certain types of cancer.

Finding out that you are in a high risk category for certain illnesses can ensure that you adjust your life accordingly in order to reduce that risk.

On discovering that you are a high risk candidate, it is likely that your insurance premiums will rise accordingly.

However, ABI spokesman Jonathan French says that genetic testing can work in your favour: The classic example is the test for breast cancer. So if a woman has a history of breast cancer, she would be expected to disclose this but if she has had a test and the result was negative, the likelihood is this would be taken into account.

"It is a fact that the way insurance is worked out, if you have a family history the likelihood is you would be charged higher premiums because the risk is by definition higher, but if you can prove the risk is not higher you may be able to reduce them."

Policy advisor Matt Morris from specialist life insurance brokers Lifesearch explains how the system works:

"When someone calls up for life cover, one of the questions is on family history, for example whether one of your close family has died before the age of 50 and if there is a strong history of an illness, and an underwriter would decide whether to load the premium or make exclusions."