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Does Credit Score Affect Policy Price?

When it comes to credit score and health insurance, things look a bit different for you as a 1099 worker. Since we are left to find our own coverage plans, that means we are looked at as individuals versus a group. Factors like your credit scores help determine your rates and how much you will end up paying over time.

To break this down: a high credit score could mean lower policy payments, while lower credit scores could mean higher policy payments. The reason companies look at things like things is to determine how much of a cost risk they believe you to be based off your past spending habits. This does not mean that you will be denied a policy, but the likelihood of it affecting your monthly rates is high.

So what would they be looking at? There are 2 main things companies take into consideration. The first is your payment history, which means if you pay and if you pay on time. Second is your total debt. Are you stable enough to pay for this regularly and during unforeseen circumstances? 

Your payment history, and your total debt. They want to know if you pay, if you pay on time and if you are financially stable enough to pay for unforeseen or expected expenses. They will most likely be looking more closely at those payments related to any health expenses. Does credit score matter? If you’re looking for the lowest possible rate yes it does but it will never keep you from being eligible for a policy. 



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Allyson

As a stripper and webcam model of 14 years I have always enjoyed sharing my knowledge with others about the industry. One thing that was apparent from the beginning was how very few places had our best interests in mind. I started succexxxful (pronounced successful just a lil spicier) as a "How To" content based site to answer questions, and changed direction when I realized how I could truly help. By offering adult entertainers better solutions to insurance information and resources I’ve created a platform designed for a chance to feel equal, secure and educated.

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