How Your Driving Record Affects Your Life Insurance

One of the things you will be asked to provide during your life insurance application will be your driving record. Life insurance companies do this in order to determine your level of risk. To help you know where you stand during your life insurance application, we have listed the ways your driving record affects your life insurance.

People with no traffic violations

If you belong to this category, you will have no problems getting a life insurance plan. Besides, this category tells your life insurance company that your risk level is low and manageable. Whats more, it puts you in the highest classification, thereby making you eligible for low premiums. You can also qualify for this category if you have not committed any major traffic offense in the last five years. So, if you have only minor violations like refusal to yield, speeding tickets or parking tickets, your life insurance company could also consider you as a low risk person.

People with two or three traffic violations

If you have been fined for two or three major traffic offenses in the last three years, your life insurance company will categorize you as a high risk individual. And when your risk level is placed high, the amount you will pay for your premium will also be high. Note that there are life insurance companies that won’t even give you life insurance if you have committed more than two major traffic offenses.

People with four or more moving traffic violations

It is difficult for persons in this category to get a life insurance plan. The reason is that they are seen by life insurance companies as extremely high risk and reckless individuals. However, if you belong to this category, you might still qualify for life insurance. All you need to to do is to contact us or your life insurance agent to help you find a company that will accept your driving record. If this does not work out however, you will have to wait until the expiration of your violation.