We’ve leaned on Prudential for quite some time for the best underwriting on sleep apnea. Now ING Reliastar has decided they want a piece of that risk pool also.
Generally most companies will underwrite mild to moderate obstructive sleep apnea in the standard to slightly rated area. While better rates can be found, those companies that come in at standard often end up in the mix anyway because better rates require an absence of other risk factors. Commonly sleep apnea is presented along with obesity, or at least weight challenges, and high blood pressure.
Now, in the absence of other risk factors we have often received preferred plus (best rate) approvals from Prudential. Just recently we started getting the same treatment from Reliastar. If you qualify, it’s a quick way to cut your life insurance bill in half.
Comparing a West Coast Life standard rate, where they generally land with sleep apnea, a 50 year old male looking for 750,000 of 10 year term would be approved at a rate of $1570 annually. If there weren’t any other risk factors that same guy could pay $747.50 with Reliastar or $932.50 with Pru. Kind of looks like ING didn’t just become one of the players, but possible the player.
The primary reason that most companies are at standard or worse with sleep apnea is not the snoring, but the increased risk of health issues such as high blood pressure and heart attack. The carriers that approve at better rates have decided that in the absence of any sign of other issues, they are willing to accept that risk.
Bottom line. If you have mild to moderate or even severe sleep apnea and have received what you consider to be unfair life insurance rates in the past, or unfair quotes currently, seek out an independent agent that has access to the right companies.