Did you know that many life insurance underwriters consider your driving record when determining your term life insurance rate?

Why? You’re lifestyle plays a major role in how a life insurance company determines your risk of death. So although you may be in excellent overall health, if you’ve had two speeding tickets in five years, your life insurance company may classify you as “high risk.”

Following are how life insurance carriers classify you based on your health and lifestyle:

1. Preferred Plus – In order to qualify for preferred plus rates you cannot use any tobacco and you must be in overall excellent health with no history of drug or alcohol abuse. In addition, you must not engage in hazardous activities.
2. Preferred – Generally, to qualify for preferred rates you must be in excellent overall health and you must not participate in any hazardous activities.
3. Standard – Standard risks refer to people who have had some minor health impairments. Examples of someone that would qualify for standard rates would include people who have elevated cholesterol levels or who are overweight.
4. Substandard – This rate class encompasses people that have more than minor health problems. An additional charge will be added to these people’s premiums depending on the risk factors involved.

Keep in mind that underwriting guidelines vary greatly among life insurance carriers. But, it’s important to maintain the best health and lifestyle you can to get an affordable term life rate at a life insurance company you know and trust.

So the next time you’re in hurry to get somewhere, consider slowing down because a less than adequate driving record won’t only affect your auto insurance rate.

For more information about how your health and lifestyle can affect your term life insurance rate, talk to one of AccuQuote’s licensed agents. They will compare life insurance rates with top-rated life insurance companies to make sure you get the best rate possible based on your unique information.