Did you know that your driving history can affect your life insurance rates? While this doesn’t necessarily mean you’ll be denied coverage, life insurance companies will check your driving history and increase your premiums just as auto insurance companies would.
If you’re confused about whether or not you will be eligible to receive a life insurance policy because of your driving record, we’ll go over everything that you need to know in this article.
Your Auto Insurance Isn't The Only Thing That Will Go Up
- How many moving violations you have (not wearing a seat belt, failure to yield, speeding tickets, or texting while driving)
- DUIs (driving under the influence) or DWIs (driving while intoxicated)
- Traffic violation (running red lights, careless driving, or reckless driving)
- How many demerit points you have
- If you were at fault for the auto accident
How To Check Your Driving Record
Accidents can happen to anyone at any time and sometimes we let accidents slip without even realizing it, like getting a speeding ticket or forgetting to put our seatbelts on. In fact, according to statistics, 90% of road crashes are a result of human error. All it takes is one incident to change our lives forever and to increase our auto insurance and how other insurance companies view you as a lender.
This is why it’s important to check your own driving record before applying for a life insurance policy because, as mentioned above, insurance companies check driving records before approving you or determining an insurance rate. Driving infractions can stay on your driving record for 3 or more years and at-fault accidents upwards of 10 or more years, so if you can’t remember your claims history or record information, you can request it from the Ministry of Transportation by mail, phone, in person or online.
How To Clean Your Bad Driving Record Before Applying For Life Insurance
How To Qualify For Life Insurance With A Poor Driving Record
If you need life insurance quickly but are worried about being denied coverage, there is still an option for you.
No medical life insurance is the perfect option for people who may have a poor driving history, who have a medical condition or critical illness, who are over the age of 65, have a criminal history, and more. Rather than undergoing a medical exam like with typical life insurance, you won’t be required to do that with no medical life insurance. It’s easy to obtain, it’s affordable, and it can provide you with the right coverage you desire. If you fit under one of the following categories, you may still qualify for no medical life insurance:
- Had your driver's license revoked or suspended
- Charged with impaired driving, distracted driving, reckless driving or careless driving
- Have speeding or other traffic tickets
Mental Health Disorders & Life Insurance Companies
