WREX.com – Rockford’s News LeaderTraffic tickets can impact your life insurance rates

Traffic tickets can impact your life insurance rates

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Did you know that your driving record matters when it comes to life insurance? That's right -- just a single traffic ticket could send your premium through the roof.

"Not many consumers are aware of it, but your driving record can have a huge impact on your life insurance rate," said Aaron Pinkston, founder of Clarifinancial, a life insurance firm in Garner, NC. "A spotty record could keep you from qualifying for premium rates, and you may even be denied coverage altogether."

Even those with minor traffic infractions may see higher life insurance rates. "Depending on the circumstances of each ticket and the insurance company you apply to, just one or two traffic tickets could be cause for concern," Pinkston explained.

Life insurers are prompted to check driving records for one simple reason: the roadways are incredibly deadly. Over 40,000 Americans die each year in auto accidents -- about 115 per day.

Even if your driving history isn't requested on the life insurance application, your potential insurer is looking at your record. Some insurers don't include driving-related questions because they simply pull information directly from the DMV, so it's best to be honest up front.

The good news is that older traffic tickets, even if they haven't fallen off your driving record, may be excused. "Life insurance underwriters are interested in how recent your driving violations are, so a ticket from four years back won't hurt as much as a ticket from six months ago," Pinkston added. "That's one reason it pays to check for quotes every once in a while until the ticket disappears."

Fortunately, drivers with imperfect records can still find affordable life insurance -- but they'll need to shop around to do it.

"Each life insurance company has different underwriting criteria, so it can really pay off to shop around and get multiple opinions," Pinkston said. "Your rate depends on the company you apply with."

This article is provided by InsWeb Corp. If you have tickets, accidents or even DUIs on your driving record, search for an insurer who won't punish you for an imperfect driving record by comparing free term life insurance quotes with InsWeb.com.