Does Life Insurance Improve Your Credit Score?

  1. 1165 POINTS
    Chris Abrams
    Founder, Abrams Insurance Solutions, Inc., San Diego, CA
    Life insurance has no impact on credit score as there is no relationship between the two.  A credit score is a measure of your financial health.  Life insurance makes sure that what you want to happen will happen, even if you are not here.
    Answered on May 8, 2013
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    David RacichPRO
    Fountain Hills, Arizona
    There are no additional brownie points for purchasing life insurance to enhance your credit score. On the other hand, your credit score could affect the premium you’ll pay for your life insurance. It’s important to disclose, a less the stellar credit score, to you’re an independent life insurance agent. Most seasoned, independent life insurance agents know who the benevolent insurance companies are based on your credit score.








    Answered on May 8, 2013
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    Peggy Mace
    Most of the U.S.
    Some life insurance companies allow you to pay regular premiums automatically, by credit card. MSN Money states that setting up automatic payments on a credit card is one way to raise your credit score. So in that respect, and that respect only, purchasing life insurance could improve your credit score. Read here for more info: http://money.msn.com/credit-rating/raise-your-credit-score-to-740-weston.aspx?page=2
    Answered on May 9, 2013
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    Peggy Mace
    Most of the U.S.
    Life insurance is not reported on credit reports, but if you pay your monthly life insurance premium with a credit card, it will show up on credit reports. As with other bills that are paid on time by credit card, paying your life insurance premium consistently and on time can improve your credit score.
    Answered on September 26, 2013
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