sleep apnea life insurance
Can I get life insurance with sleep apnea? Who are the best life insurance companies for sleep apnea? If you are wondering if you can get life insurance with sleep apnea, you’ll need to understand what life insurance companies are looking at before they offer you a policy.
Sleep disorders are incredibly common, and among the most widespread is sleep apnea. Second only to insomnia, sleep apnea is a reality for over 18 million Americans and affects many aspects of their daily lives. When it comes to life insurance, sleep apnea can also affect coverage and policy rates. Fortunately, your chances of getting the best rates with this sleep disorder are best if you are prepared.
Life Insurance Questions on Sleep Apnea
Not all cases of sleep apnea are the same, and we are fully aware of this. In order to make sure you get the best life insurance quotes available, you should be prepared to answer to following questions:
- How old are you, and when were you diagnosed with sleep apnea?
- Do you have obstructive sleep apnea, central sleep apnea, or mixed sleep apnea? (As you may already know, most sufferers have obstructive sleep apnea).
- How severe is your sleep apnea?
- Have you participated in a sleep study, and if so, when?
- Have you been diagnosed with any other health conditions (high blood pressure, cardiomyopathy, acid reflux, etc.)?
- What kind of treatment have you had (are you sleeping with a CPAP machine, using an oral device, have had surgery, etc.)?
- Do you currently smoke cigarettes/ do you have a history of tobacco use?
- What is your height and weight?
does sleep apnea affect life insurance rates?
It definitely can! Depending on your answers to the above questions you will fall into one of several health rating categories:
Health Ratings for Sufferers of Sleep Apnea
Term life insurance is based on health ratings, which greatly help determine your insurance premiums. People in perfect health without any issues get approved at the lowest rates called “Preferred Plus” or “Preferred Best” rates. It goes up from there as you can see in the chart below.
|Rate Class / Risk Class
|Preferred Best / Plus
|50% of Standard
|63% of Standard
|Standard Plus / Select
|86% of Standard
|Sub-Standard / Table Ratings
|Table 1 / A
|25% over Standard
|Table 2 / B
|50% over Standard
|Table 3 / C
|75% over Standard
|Table 4 / D
|100% over Standard
|Table 5 / E
|125% over Standard
|Table 6 / F
|150% over Standard
|Table 7 / G
|175% over Standard
|Table 8 / H
|200% over Standard
Preferred Plus Rates
If you have been diagnosed with mild sleep apnea and do not have any real complications, you may be eligible for Preferred Plus rates (the lowest ones). Actual insurance rates will vary from person to person, but for a better idea of what they’re like, let’s take a look at an example based on real-life situations.
- Let’s say Steven is a 40 year old male looking for a 20-year, $500,000 life insurance policy. With mild sleep apnea and no complications, he is likely to be offered a rate of $30 a month.
If you have been diagnosed with mild to moderate sleep apnea, but are following your doctor’s recommendations and are actively treating your complications (say, by using a CPAP machine every night and exercising) you may qualify for Preferred rates.
- For instance, if Bill does have sleep apnea complications but is treating them, he is likely to be offered a rate of $39 a month for a $500,000, 20-year policy.
If you have been diagnosed with severe sleep apnea but are treating it and following your doctor’s recommendations, you may be eligible for Standard rates.
- If, for example, Bill has severe sleep apnea but is treating it and doing everything his doctor says, he will likely be offered a rate of $64 a month for a $500,000, 20-year life insurance policy.
Table ratings are basically additional charges that are added on to regular rates. The higher the table rating, the higher the cost. For example, if you have been diagnosed with moderate sleep apnea but are letting your complications go untreated, you may be slapped with a Table 2-4 health rating.
- Now to our example: If Bill has been diagnosed with moderate sleep apnea but has not been doing anything about it, he may be offered a Substandard “Table 2” rating of $77 a month for a $500,000, 20-year term life insurance policy.
Life Insurance Denial
Yes, people with sleep apnea can still get denied life insurance coverage. However, this largely occurs when the disorder has been diagnosed as severe and is being left untreated.
So, the lesson here is that if you do have sleep apnea, you are still very much eligible for life insurance coverage. However, it is very important that you treat it as recommended. Remember— the better you take care of yourself, the better life insurance companies will take care of you.
Can I get life insurance with sleep apnea?
If you have sleep apnea get started with an instant quote. Our licensed agents are experts in finding the right companies that will approve you. Not all companies are the same and the top carrier with the best rate will be based on your specific health details. Remember, it’s all about which company you apply with when it comes to preexisting health conditions.