Along with the rise of big data, financial planning could start to use clients’ saliva to assess the state of their health.
The science of epigenetics would enable institutions, especially life insurers, to determine risk factors from a client’s saliva sample; and that could mean better deals for those willing to use the unusual technique when applying for products.
In a survey by US firm Life Epigenetics in association with ETF Trends and IRIS.xyz, financial advisors and life insurance agents said that consumers are ready to use their spit to reduce their premiums or just to streamline the application process.
“We believe there is an enormous opportunity for applying cutting-edge science into financial planning tools such as life insurance,” said Jon Sabes, CEO of Life Epigenetics. “This survey is a strong indication of how open minded and interested consumers are in learning more about what science can tell them about their own biology to help them improve their lives.”
The poll found that 20% of respondents have already provided saliva samples to ancestry or genetic makeup websites, and while the number who had heard of epigenetics was low, most were interested in the potential.
This is an emerging field of science but Sabes says that the increasing power of computers is among the factors driving rapid growth.
“The application of predictive technology to financial planning is a natural next step,” Sabes said. “Knowing more about your health and wellness can help people make important decisions about their future that should include the means to pay for it.”