Is a Bad Credit Score a Reason Behind High Health Insurance Cost?
Your credit score is one of the major factors that influence the premium cost of your insurance policies and health insurance is not an exception. If your credit score is bad, then you may have to pay comparatively high insurance premium on your health insurance coverage. Why and how credit score influences health insurance cost An insurance provider usually checks your credit score before offering you a health insurance quote. By checking your creditworthiness, the insurer tries to predict whether or not you’ll pay your premium on time. Actually, the insurance underwriters try to calculate the risk of offering you health insurance coverage. It is quite natural that ultimately an insurance company tries to make profit by offering you a policy. So, they increase the premium cost in order to cover the potential risk that they possess by offering a policy to a person with a bad credit score. Moreover, a bad credit score also reveals that the person has poor money management skills; theref
