Having debt problems, difficulties in eliminating debts can highly influence your credit scores, which is the base of insurers' and lenders' decision of giving you credit and trust. Every company, after your application is checking your credit report, which can be acquired without your knowledge. Insurance companies need some proof that you are eligible for a certain life insurance policy, and if your credit report is bad they cannot give you enough trust.
Your credit score can highly influence an insurance company's decision when giving you a good insurance premium, but if your credit score is weak it doesn't mean you will not get any life insurance, but be prepared, the premiums will be higher. Your credit score is calculated into the cost of your life insurance policy; large debts, unpaid bills can highly increase the premiums you have to pay on the insurance, so the best you can do is to eliminate debts as soon as possible.
Giving high premiums on a life insurance might seem unfair, but we need to understand that companies are willing to win by giving you an insurance policy; and starting with a bad credit score it is not quite what insurance companies are looking for. Insurance companies need to trust you and having money management problems, high debts accumulated are not what they are willing to rely on.
Insurance providers cannot get to know you only by looking on your credit score, they do not know what kind of person you are, how you are looking like and they do not know your sum of income also. Unfortunately what they are basing on is the state of your credit report; and if you are having a weak one, your chances of getting a top life insurance with high coverage is getting smaller if not minimal.
Your chances in getting a good life insurance policy might be low at first, but if you manage to pay off your debts and get to manage your finances properly, to improve your credit score, you have the chance to get a better life insurance policy with higher coverage and of course, the trust of the insurance company.