People just love to overshare on social media, and prefer to under-share on their life insurance applications.
So life insurance carriers are now turning to social networking sites to find more information about their clients. These social media checks can even greatly impact your life insurance policy and rates.
How, you ask? Here are 5 ways your social media profile can impact your life insurance rates:
You can get caught smoking.
If you claimed that you were smoke-free on your life insurance application, or during your medical exam, but then your profile says otherwise, you could see a significant raise in your life insurance rates. Whether you simply share statuses about smoking cigarettes, or even marijuana, or get tagged in a picture smoking a cigarette, your insurance company can seek this out and nail you on it. It may be the first cigarette you’ve ever had, or that occasional cigar you smoke when you’re out with your buddies, and the insurance companies will not care. Your rates will rise, and you’ll kick yourself for smoking, and for letting your friends post the pictures on social media.
It appears as though you have a drinking problem.
If your social media profiles are filled with pictures of you and your drunk friends out and about every weekend, you really should reconsider what you post. Not only is that just plain trashy, and portrays a bad reputation, but it can also get you higher life insurance premiums. While drinking a bit here and there is totally acceptable (as long as you are of age) but getting drunk regularly is considered risky behavior by insurance companies, and with pictures proving your behavior, you could end up with a raise in your rates. You should probably clean up your act, and your profile if you want to be viewed as a responsible adult who deserves affordable life insurance rates.
Your travel pictures are delightful, but dreadful for your rates.
If you a renowned world traveler, unafraid to visit the most dangerous corners of the world, then your guts may just cost you in insurance rates. Lots of traveling, especially to other countries that are less than safe, increase your risks of disease and accidents, so insurance carriers may charge you for your traveling tendencies. If you can afford it, then carry on with your travels, and social media posts.
You show off your participation in extreme sports.
You love doing risky things, and then bragging to your friends about it on social media, but if your insurance carrier sees this, you might just see a rise in your rates, or even get dropped completely from your insurance policy. If your application for insurance didn’t include your extreme hobbies, then your life insurance carrier may cancel your policy, or increase your rates due to the high-risk of these dangerous activities. While you definitely shouldn’t lie in the first place, especially not on your life insurance application, you should reconsider exactly what you post on social media. Otherwise, you might have to buy your bragging rights.
Posting your habits can tell insurance carriers a lot.
If you constantly post pictures of delicious, yet unhealthy food, and statuses about being lazy and watching Netflix, you may see a small increase in your rates. If your social networking profile displays an unhealthy lifestyle, then you will pay for it.
On the other hand, if you are constantly posting about working out, or showing off your body, or healthy meal plan, you might actually improve or reinforce your rates through your social media profile. While everyone who comes across this on your news feed might secretly hate you, your insurance company may just reward your for your healthy lifestyle, which puts you at less of a risk to the insurance company.
From now on, keep in mind of your social media posts to filter out the stuff that could make you look bad. Your reputation, and your bank account, will thank you for the positive changes.