How Traveling Can Affect Your Life Insurance Rates

Did you know your travel plans and travel history can affect your life insurance rates? With winter approaching, are you thinking of taking a vacation to Cancun's warmer climate? Does your job require you to travel internationally? These are things to consider when applying for life insurance, as they can affect your rates.

The U.S. Department of State provides a website with information for current global travel warnings and travel alerts. Insurance carriers refer to this list when underwriting life insurance applications. If the U.S. State Department is declaring an area as "unsafe", the <a href="http://www.pivot.com/Learning-Center-Life-Insurance">life insurance</a> carrier will also deem it as unsafe. Because of this, your application could be declined, or a higher premium could be added to the policy. Though the list is subject to change, current areas deemed unsafe include parts of West Africa, Syria, El Salvador, Yemen, Algeria, parts of Mexico, Iraq, and Lebanaon among others.

Would a vacation to Mexico be considered risky or unsafe? That would depend on what city you were staying in as well as what type of facility you are staying at. A week's vacation on a resort in Cancun should not be considered unsafe. On the other side of the coin, I have a friend who is a high school social studies teacher. During the summer vacation, she travels to Central America. While in Central America, she travels with a backpack and stays with local residents. Though her vacations are wonderful experiences that she values greatly, insurers may view her choices as very risky. There is a possibility she would not be eligible for a life insurance policy as she is not staying in a secure resort/facility or traveling in a group tour.

You may ask, am I eligible for life insurance if my job requires me to travel around the world? Well, that all depends. The insurance carrier will need to know details of your travel history. What cities do you travel to? How long do you stay? What type of facility are you staying in? The longer you would stay in a country that is considered "at risk", the higher risk you become to an insurance carrier which impacts the carrier's decision.

Bottom line, many factors come into play with regards to obtaining life insurance coverage. The best way to get the coverage you want and need is to contact a reputable life insurance marketplace specialist to help you navigate and simply the life insurance application process.