Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Bill 2025

✦ Plain-English Summary

# Genetic Testing Protections in Life Insurance Bill 2025

## What it does
Life insurance companies will be banned from using genetic test results to decide whether to offer you insurance or set your premiums. The bill also makes some technical changes to how foreign financial firms operate in Australia and updates Australia's involvement with international development banks.

## Why it matters
Right now, if you do a genetic test and it shows you're at higher risk of certain diseases, an insurer could use that against you—charging you more or refusing cover entirely. This bill stops that happening, meaning people won't be discouraged from getting genetic tests for health reasons out of fear of insurance consequences.

## Key details
- **Main change kicks in 6 months** after the bill becomes law, giving insurers time to adjust their practices
- **Foreign financial services licensing** gets streamlined 12 months later, making it easier for overseas firms to operate here
- **International development banks** get updated rules (the Asian Development Bank, World Bank, and others)—mostly clearing away old laws that are no longer needed
- Life insurers can still ask about your family history or existing health conditions, just not your raw genetic test data

Official Description

Amends: the Insurance Contracts Act 1984 to establish a ban which prohibits insurers from using certain information about an individual’s genetic testing to inform the offer of life insurance cover, or the terms and conditions of the cover that is offered; the Disability Discrimination Act 1992 to align Australia’s anti-discrimination law with the ban; the Corporations Act 2001 to provide four licensing exemptions for foreign financial services providers; 7 Acts to support Australia’s continuing participation with multilateral development banks (MDBs) and the International Monetary Fund by introducing special appropriations for current and future financial obligations to MDBs, enabling the delegation of certain powers, ensuring payments consistent with existing obligations can be made without additional ministerial approval, and making technical amendments; and the Financial Sector Reform (Hayne Royal Commission Response—Better Advice) Act 2021 to remove the requirement that individual financial advisers register themselves with the Australian Securities and Investments Commission annually from 1 July 2026. Also repeals 9 Acts and the European Bank for Reconstruction and Development Regulation 2012 .

Committee Referrals

Senate Economics Legislation Committee; Senate Standing Committee for the Scrutiny of Bills

Full bill PDF →APH page →

Audit History

Introduced

1 Jan 2023

Last updated on APH

10 Apr 2026

Last checked by Crossbench

today

Full text indexed

today

🗳️

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