Sleep apnea can have a dire impact on just about every area of your life. Not getting quality sleep can disrupt your everyday life. If you’re suffering from sleep apnea, you’ll not only be at a higher risk for depression and diabetes, but you’re also could end up paying more for life insurance coverage.
Life insurance is one of the most important purchases that you’ll ever make for your loved ones. It’s the best safety net that you can buy for your family. It’s one of the only ways that you can guarantee that they will have the money that they need, even if something tragic were to happen to you.
This article is going to look at how sleep apnea is going to impact your life insurance application and ways that you can get lower rates from the insurance company. Don’t let sleep apnea keep you from getting a quality and affordable life insurance plan.
Sleep Apnea and Life Insurance Application
When you apply for life insurance, the insurance company is going to review dozens and dozens of different factors when they are deciding if they are going to accept your application. They are also going to review these factors when they are deciding how much they are going to charge you for coverage.
As an applicant with sleep apnea, there are several questions that the insurance company is going to ask you several questions in regards to your condition. The first question that they are going to ask is what type of sleep apnea that you have. There are three types of sleep apnea, and the type that you have is going to impact how much you pay for your life insurance. The most common is obstructive sleep apnea, which is when then air passage is obstructed by swollen tonsils, the tongue, excess weight, or the closing of the soft tissue of the throat.
The next kind of sleep apnea is central sleep apnea, which is when the brain doesn’t signal the muscles to continue breathing while you sleep. This is much less common but is considered more severe. The last type of sleep apnea is complex sleep apnea, which is merely a combination of both of the other types.
The next question that they are going to ask is the date that you were diagnosed with sleep apnea. If you’ve recently been diagnosed with sleep apnea, then the insurance company is going to be warier of your application. They want to see that you can control the condition through treatment.
On the same token, the insurance company will want to know how you’re treating sleep apnea. For the vast majority of cases, a CPAP machine is going to be the treatment that’s used. If you use a CPAP machine regularly to manage your sleep apnea, then the insurance company will assume that you can manage the condition without having any severe related health complications.
In other cases, your doctor might suggest some lifestyle changes. Making a few simple changes can alleviate your sleep apnea symptoms. Things like losing weight or quitting smoking could help you get the sleep that you need.
Getting Affordable Life Insurance
If you have sleep apnea, you’ll be considered a high-risk applicant for life insurance. That doesn’t mean that you can’t get approved or that your plan is going to break your bank. There are several ways that you can secure lower insurance premiums, even if you have a red flag on your application.
As we mentioned, quitting smoking can help reduce your sleep apnea, but it can also save you thousands and thousands of dollars every year on your life insurance plan. If you’re a smoker, then you’re at a much higher risk of being diagnosed with several health problems. That means that you’re going to be a much higher risk to the insurance company. In fact, smokers are going to pay at least twice as much for their life insurance protection versus what non-smokers are going to pay for the same sized plan. Quitting smoking can save you thousands of dollars every year on your coverage.
Another way that you can save money is to improve your overall health. Before they accept your application, they are going to require that you take a medical exam, unless you have chosen to purchase a no medical exam life insurance policy, which will come with a higher premium rate. The results are going to impact on much you pay every month. If you want to save money, then you need to get better results from the medical exam.
Life Insurance and Sleep Apnea
If you have any questions about life insurance as an applicant with sleep apnea, please contact one of our agents today. We are a group of independent insurance agents, which means that we don’t work with one single company. Instead, we work with dozens and dozens of highly rated companies across the nation.
Instead of wasting hours and hours calling different companies, let one of our agents bring a personalized set of quotes directly to you. We know which companies are going to give you the best rates for someone with sleep apnea.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the life insurance coverage that your family deserves. If something tragic were to happen to you, and you didn’t have insurance coverage, your family would be stuck with a massive amount of debts and other final expenses.
Contact us today, and we can get the process started. We can bring you the best quotes and walk you through the process to ensure that you’re getting quality life insurance at an affordable price.