Life insurance is one of the most important safety nets that you’ll ever buy for you and your family. Finding the best life insurance plan to fit your needs can be a long and painful process, especially if you have a health complication, like sleep apnea.
If you’re looking for life insurance and sleep apnea is something you deal with currently, or even dealt with in the past, let us be a resource to you in discovering what your options are.
Sleep apnea can be mild to severe, and the range of premiums you can expect to pay for your life insurance policy can range vastly.
If you’ve been turned down for life insurance and sleep apnea was the cause, please contact us. There’s a good chance it’s not your fault and you simply weren’t lined up with the right carrier.
You have many options when searching for Impaired Risk Life Insurance. Let our professionals help you today.
Continue reading to learn more about sleep apnea and life insurance approvals with sleep apnea. While we treat each new client as a unique case, there are some basic guidelines you can go by to get started.
We know that getting life insurance can be a long and difficult process, but we are here to help. Our agents have years of experience working with dozens of companies across the nation and can help you get life insurance with sleep apnea.
Life Insurance And Sleep Apnea
Let’s briefly discuss why sleep apnea is risky to a life insurance provider, and why it can quickly become categorized as a high risk life insurance policy. You might think your inability to sleep is not a big deal, but to an insurance carrier, it can be the causation for something more serious.
According to the American Sleep Apnea Assocation:
The Greek word “apnea” literally means “without breath.” Sleep apnea is an involuntary cessation of breathing that occurs while the patient is asleep. There are three types of sleep apnea: obstructive, central, and mixed. Of the three, obstructive sleep apnea, often called OSA for short, is the most common. Despite the difference in the root cause of each type, in all three, people with untreated sleep apnea stop breathing repeatedly during their sleep, sometimes hundreds of times during the night and often for a minute or longer. In most cases the sleeper is unaware of these breath stoppages because they don’t trigger a full awakening.
Left untreated, sleep apnea can have serious and life-shortening consequences: high blood pressure, heart disease, stroke, automobile accidents caused by falling asleep at the wheel, diabetes, depression, and other ailments.
There’s where the focus lies, the symptoms and ailments which can come about as an evolution to the sleep apnea. Life insurance and sleep apnea are intertwined specifically for these reasons. Usually, an underwriter is more concerned with direct symptoms and other health concerns as a result of the sleep apnea than the sleep apnea itself as a direct threat.
Other symptoms include:
- Memory Issues
- Weight Gain
- Increased Cardiovascular Threats
Sleep apnea affects life insurance rates because life insurance premiums are solely dependent on your current age and health. If your health is not average or better, you’ll be forced to pay higher premiums because you are considered a higher risk to the life insurance carrier. Also, the younger you are the better, seeking insurance for young people with health issues is going to be easier than looking for life insurance for an 80 year old with health issues.
The good news is we can still find someone a life insurance policy at Standard rates as long as they confirm their sleep apnea is a mild case. A person with a mild case of sleep apnea who is being treated can maintain a level condition over a very long period of time. This rating also assumes all other health aspects of the primary insured are in check. A sleep study has to have been conducted, with well documented results of an Apneic index below 20 and an oxygen saturation in the neighborhood of 80% or greater.
Do be aware that if you suffer from sleep apnea but have not completed a sleep study or are going untreated, your application can be postponed for as long as it takes until you meet these requirements!
If you fall outside of these ranges, life insurance and sleep apnea start to get tougher and we begin to see ratings. A person who is classified as moderate will be able to expect Standard to Table 2 depending on many factors. The Apneic index can go as high as 40 as long as the oxygen saturation percentage is higher than 70. A very regular template of follow-up and treatment must be present and adhered to, especially if any types of surgery were required. Without this follow-up, a moderate case of sleep apnea can produce Table 4 or worse.
Severe cases of apnea will likely be postponed until treatment with signs of improvement have occurred, but you can still temporarily purchase a simplified or guaranteed issue life insurance policy.
There are dozens of different factors that the insurance company is going to consider when reviewing your life insurance application, your sleep apnea diagnosis is just one of the many aspects that they are going to look at. There are several different changes that you can make to secure lower insurance rates.
After you finish the paperwork for the insurance policy, the company is going to require that you complete a medical exam before they approve your application. The results from the exam are going to play a major role in how much you pay for your protection.
The first thing that you should do is improve your health through a healthy diet. Switching out some of that junk food for healthier options is a great way to lose weight, lower your blood pressure, and much more.
The next thing that you should do is start getting regular exercise. Similar to a diet, exercise is going to help you lose more weight and have a whole host of additional health benefits. You don’t have to be a marathon runner to get the best rates available.
Regardless of your health, or any pre-existing conditions that you have, there are plenty of options for life insurance. Even if you’ve been turned down previously, we can connect you with a no exam policy that will give you affordable protection for your family. These plans will give you the coverage that you need, without being required to take the medical exam. There are several advantages and disadvantages to no exam plans that you should be aware of when looking for life insurance. Maybe you’re pregnant and want to know if you can qualify for life insurance during pregnancy; we can help!
The advantages of these plans is that anyone can buy them, regardless of health or any preexisting conditions. Additionally, you’ll be able to get life insurance protection much quicker than a traditional life insurance policy.
But, like with every other kind of life insurance plans, there are downsides to a no medical exam policy. The biggest disadvantages are that these plans are going to be much more expensive than traditional life insurance policies and that you’re going to be drastically limited on how much life insurance coverage you can purchase. But, no matter if you need $100,000 or a million dollar insurance policy, we can answer your questions and help you get the coverage you deserve.
If you have additional questions, concerns or comments about your own sleep apnea and life insurance is on your mind, please contact us. We’ll be happy to assist you and do our best to get you an accurate quote so you know what you can expect.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait to get the life insurance protection that your family deserves. Life insurance is the best thing that you can ever do for your family, because you can’t predict the future, you never know when something tragic is going to happen.