 TITLE: Term vs. Whole Life: Which Should I Get? CONTENT: Will the Insurance Company Check My Credit?\n-------------------------------------------\nHistorically, life insurance companies didn't require a credit check during the application process. But that's changing quickly.\nFor example, LIMRA, a global trade association for life insurance companies, found that the number of insurers who use credit checks increased from 18% in 2017 to 49% in 2019.\nIn general, though, insurance companies use what's called a credit-based insurance score rather than the traditional FICO® Score☉ lenders use. A credit-based insurance score provides insurance companies with the information they need to determine the likelihood that you'll miss premium payments.\nAs a result, having a good credit score could improve your chances of scoring a low rate on your insurance policy. END