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apnea and Life insurance
#1
I recently got a life insurance. They asked me about sleep apnea and because of that gave me a lower rating (one lower) than best. However, the company said if I get any medical condition treated then they will lower the premium.

Any of you have had this? Have you gotten recertified later on and been able to lower the premiums

A key takeaway I took was to have my spouse get life ins before she goes for any sleep tests :-)
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#2
(05-25-2014, 06:16 PM)roym Wrote: I recently got a life insurance. They asked me about sleep apnea and because of that gave me a lower rating (one lower) than best. However, the company said if I get any medical condition treated then they will lower the premium.

Any of you have had this? Have you gotten recertified later on and been able to lower the premiums

A key takeaway I took was to have my spouse get life ins before she goes for any sleep tests :-)

Hi roym,

Yes, statistically speaking, untreated Obstructive Sleep Apnea has a huge effect on life expectancy, so of course the insurance companies take that into account when determining the cost of insurance. And it would be fraudulent and would likely void the contract if we were to illegally misrepresent anything on an application for life insurance.

Sounds like if you get your doctor to state in writing that your OSA is being adequately treated your life insurance premiums will be lowered.

If you did this, I would expect a large difference in price. How much of a difference will it make in your case, percentage-wise?

Take care,
--- Vaughn
.
Membership in the Advisory Member group should not be understood as in any way implying medical expertise or qualification for advising Sleep Apnea patients concerning their treatment. The Advisory Member group provides advice and suggestions to Apnea Board administrators and staff on matters concerning Apnea Board operation and administrative policies - not on matters concerning treatment for Sleep Apnea. I think it is now too late to change the name of the group but I think Voting Member group would perhaps have been a more descriptive name for the group.
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#3
(05-25-2014, 06:16 PM)roym Wrote: I recently got a life insurance. They asked me about sleep apnea and because of that gave me a lower rating (one lower) than best. However, the company said if I get any medical condition treated then they will lower the premium.

Any of you have had this? Have you gotten recertified later on and been able to lower the premiums

A key takeaway I took was to have my spouse get life ins before she goes for any sleep tests :-)

Yep. Just watch out for "pre-existing condition" clauses. Nah, they wouldn't do that..........
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#4
Be careful as if you are contemplating your wife having a sleep test because you think there may be a problem and do not disclose this, it can be as bad as non disclosure of a known condition. Also (in Australia) until you have completed the underwriting process and have the policy documents issued, you continue to be bound by disclosure requirements, check what the situation is where you live, YMMV. Some claimable conditions may also be precluded from claim for a set period of time from inception of the contract, again read the fine print, YMMV.
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#5
Hi Vaughn
The price difference is about 12%

(05-25-2014, 07:13 PM)vsheline Wrote:
(05-25-2014, 06:16 PM)roym Wrote: I recently got a life insurance. They asked me about sleep apnea and because of that gave me a lower rating (one lower) than best. However, the company said if I get any medical condition treated then they will lower the premium.

Any of you have had this? Have you gotten recertified later on and been able to lower the premiums

A key takeaway I took was to have my spouse get life ins before she goes for any sleep tests :-)

Hi roym,

Yes, statistically speaking, untreated Obstructive Sleep Apnea has a huge effect on life expectancy, so of course the insurance companies take that into account when determining the cost of insurance. And it would be fraudulent and would likely void the contract if we were to illegally misrepresent anything on an application for life insurance.

Sounds like if you get your doctor to state in writing that your OSA is being adequately treated your life insurance premiums will be lowered.

If you did this, I would expect a large difference in price. How much of a difference will it make in your case, percentage-wise?


Take care,
--- Vaughn
.

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