Does Credit Affect Life Insurance?

Forever Young Life Insurance
Recently I was on an appointment with a teacher, who was pondering getting a life insurance policy to compliment her retirement, to make sure there was something in place in case something would happen to her, so her daughter would be able to afford college, and a down payment on a house.  
She wanted to make sure her daughter would be setup nicely in the event of a tragedy.  As the father was not in the picture, she was the sole provider for her 13 year old.  We began looking at some polices, and finding a nice package that she could afford as well as meet her needs. 
Then all of sudden she got blue in the face, and asked me, “how do credit affect getting a policy?”  She knows that credit effects renters insurance, car insurance, and homeowners insurance so naturally she was concerned about life insurance.  
While you score does not directly affect your life insurance policy, it could affect if a carrier wants to offer a life insurance policy.   Some carriers have policies about offering policies for those who have filed bankruptcy within the last 12 to 24 months. Carriers will pull a soft pull on  you credit (soft pulls don’t affect your score)  to see if you have the ability to pay for the policy, and if you are maxed, they could  consider you high risk.  
But the bottom line is your credit score will not directly affect your ability to get a policy, but certain carriers may not want to offer a policy for you having a rough credit report.  
If you are looking to make sure you report is accurate and would like some assistance with credit repair, our sister company Forever Young Credit Repair, is a great resource to start with. Not only will they help fix your credit, they also offer some educational tips, and training to help make sure you keep your credit strong, after leaving their program.  You can find out more at 
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