When applying for life insurance coverage, you will be asked about your overall health, if you smoke, and your family history but one question that gets asked that many people don’t expect is, “How is your driving record?”.
Yes, your driving record affects life insurance rates. It could cost you if you have a lead foot and have been ticketed for it. Not only does your car insurance go up, but also so does your life insurance! Life insurance is one of the most important purchases that you’ll ever make, and your driving record could have a significant impact on that.
Sadly life insurance rates and your driving record have one thing in common: Death! That might seem a little over-dramatic but death is certainly something to worry about on the road. This may seem unfair to some, but it is a real worry for insurance companies. Just like a disease or other serious health condition, bad driving raises your chance of death. When you have a higher likelihood of death, your life insurance rates go up. Just like if you were completely healthy and took steps to ensure you stayed alive and well for years to come, your life insurance rates would drop.
We at Cosmo Insurance Agency promote safe driving! Give us a call today to get a quote for a life insurance policy.
Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.