Reader question:

Will my credit history or score affect my life insurance rates in Houston?

Abigail

Glad you asked.

Among the many many things which affect life insurance rates is a person’s credit rating. While it may not seem to make sense that a credit rating would be included, the truth is that bad credit is often related to being low income, which in turn is related to a lower life expectancy.

If you want good life insurance rates in Houston, then you can do one of two things: you can either buy a no credit check insurance policy, or you can improve your credit rating. Or even both.

No credit check insurance policies tend to be slightly more pricey since they don’t look into that aspect of your rating. The best way to go is to order a copy of your credit report and take a look over it to see what can be improved. In some cases, you may even see something on your credit report which is either inaccurate or just shouldn’t be there at all. If this is the case, you can contact your credit reporting agency and dispute it, which will improve your rating if your dispute goes through.

take care,

Fashun

Reader question:

What kind of Veteran life insurance rates are available to someone who has just finished their duty in the army?

Perry

Excellent question, Perry.

Another type of veteran life insurance rates are those from Veterans’ Group Life Insurance, also called the VGLI. The VGLI is basically a conversion of the group life insurance that is available to an active duty member of the armed forces, and it can become part of the VGLI after they separate from the services.

The VGLI is pretty much limited to whatever amount of coverage you chose while you were still active duty, which is one of its drawbacks. However, it offers coverage for up to $400,000 and is a term life insurance program. If you want to go from Service member Group life insurance to VGLI, you have to send in an application for it.

You are only able to apply for VGLI at least 6 months after you have been discharged, but no more than 1 year after the fact.

The veteran life insurance rates are decided based on how old the veteran applying for the coverage is.

take care,

Fashun.