What you do behind the wheel of your car may end up costing you more for life insurance coverage and might even result in your getting declined for a policy.
Life insurance companies employ underwriters whose job it is to figure out how much you are going to be charged for your life insurance premiums based on how long you are expected to live. They look into an applicant’s medical background, profession and even their driving record, to obtain as much information as they can to determine an individual’s insurability and thus, the appropriate price to charge for that life insurance coverage.
A driving record that shows habitually risky behavior will result in higher life insurance premiums. Insurance underwriters consider that careless behavior behind the wheel– which increases your chances of suffering a serious or deadly accident– can shorten your life.
When you consider the statistics of the National Highway Traffic Safety Administration, driving a car is inherently dangerous. The 2009 national statistics reported five-and-a-half million car accidents involving either fatalities, injuries, or property damage.
Life insurance underwriters are paid to to determine your risk of dying prematurely due to any risky lifestyle such as a poor driving record. They obtain copies of your motor vehicle record looking for careless driving infractions, multiple accidents, DUIs, even unpaid parking tickets to determine how much your life insurance premiums will be. Any active license suspensions will result in your being declined for life insurance. Once that license is reinstated, you can re-apply for insurance.
The licensed life insurance agents online at LifeQuote frequently hear these stories from prospective clients and have to break the news to them that bad drivers will pay more for life insurance coverage.
Think about that when you get behind the wheel of your car. The cleaner your driving record the better your chances of being issued a life insurance policy in the coveted “Preferred” risk category, the lowest rates available. It will save you money in the end, in addition to perhaps saving your life.