Can a Bad Driving Record Influence Your No Medical Life Insurance Rates?

A bad driving record can have negative impact on your life insurance premiums. However, not all agencies are interested in that. Agents may not look at your driving record if you apply for a no medical life insurance plan. These policies have a simplified underwriting process that consists of a medical questionnaire.

driving_life_insuranceWhat is life insurance?

Life insurance is a type of policy that provides a death benefit if and after the insured passes away. The benefit is paid to the designated beneficiaries. The insured can choose the insurance value and the beneficiaries as well as the insurance period. Some plans, can offer additional options like riders, while others, who have investment opportunities, will let the insured decides where to invest.

Life insurance is important because it provides financial stability for loved ones. If you are employed, your death may leave your family in a difficult financial situation. Furthermore, funeral taxes will have to be paid, along with daily expenses.

 How can a driving record influence life insurance premiums?

An agency may want to check your driving record for DUIs or for other accidents. A DUI points to careless driving, which increases the chances of you dying in a car accident. Agencies do not want to cover bad drivers, because they are more likely to lose their life in an accident.

However, not all agencies check your driving record. Some plans, like no medical life insurance are easier to get because they have a simplified application process. A plan that doesn’t require medical examinations can be purchased by completing an application form. Most of the questions that you need to answer are health-related and a few about your lifestyle, like whether you smoke or drink.

These policies are usually issued in 24 hours. Although they have a simpler application process, they are also more expensive and guarantee fewer insurance proceedings than regular plans.

Having life insurance is very important, especially for the well-being of your family and loved ones. Life coverage is affordable as you can find cheap policies simply by comparing quotes. Visit our website if you want to find the best plans!