Burial Insurance With Sleep Apnea (& CPAP)

Perhaps you were recently diagnosed with sleep apnea or were recommended to use a CPAP machine. This may lead you to wonder if sleep apnea will affect your ability to get insurance for burial expenses.

Can You Get Affordable Burial Insurance With Sleep Apnea?

Almost all burial insurance companies will provide coverage for seniors who have sleep apnea. The only reason applications mention sleep apnea is in correlation with oxygen use. For people with no additional pre-existing conditions other than sleep apnea, approval is all but guaranteed.

Burial Life Insurance Basics

Burial insurance is also known as funeral and final expense insurance. This coverage was created specifically for seniors to provide an affordable way to cover their funeral costs.

Most final expense coverage is whole life insurance, so it has permanent benefits. While other plans might change or expire at a certain point, whole life coverage stays consistent for the insured’s entire life.

Final Expense Insurance Features:

• Low Cost
• No Expiration
• Coverage Lock
• Price Lock
• Builds Cash Value
• No Medical Exam
• Quick Payout

Underwriting: Does Sleep Apnea Disqualify You From Life Insurance?

Each burial insurance company sets its own individual standards on what they will accept for its various policies. Meaning that a provider will decide if they will or will not accept a person based on specific health conditions. This process is known as underwriting.

Underwriting is the process of contractually accepting liability. So in the case of obtaining life insurance for burial, the carrier determines if they are willing to pay money to your beneficiary upon your death. Acceptance is based on your health history and pre-existing conditions at the time of application.

Commonly Related Health Concerns

If you use a continuous positive airway pressure machine, commonly referred to as CPAP, you will be awarded coverage with most burial life insurance policies. However, if you are on continuous oxygen, that is another story.

Other related health concerns that might affect coverage are:

• Heart disease
• Obesity
• Diabetes
• High Blood Pressure

Ways an Application will Ask About Sleep Apnea

The majority of final expense insurance applications do not ask about sleep apnea at all. The only time applications will reference sleep apnea or a CPAP machine is when excluding it from a question about oxygen use.

“In the past 12 months, has the proposed insured used or been advised to use oxygen to assist with breathing?”

Typically this question is followed by “(excluding use for sleep apnea)” or “(excluding CPAP).” Therefore, people with a sleep apnea diagnosis will not be affected and can still receive funeral insurance coverage as though they are completely healthy.

How Companies React to the Questions

Based upon your answer to the health questions, the carrier will move forward in 1 of 2 ways.

Approve coverage: This is obviously the goal, and with this obstructive sleep diagnosis as the sole pre-existing condition, you will be approved.  A potential denial of coverage could happen if you are using oxygen assistance while you sleep.

Deny coverage: You will only be denied coverage if you answer unfavorably to the health questions. Sleep apnea alone will not affect your ability to get coverage.

Guaranteed Acceptance Plans: Buyer Beware

Many companies promote senior burial insurance on television or through direct mail campaigns. Some of these policies are fine; however, many of these policies are overpriced and misleading.

Guaranteed acceptance policies are advertised heavily by certain providers. Policies that accept everyone will come at a higher price because it does not go through an underwriting process. Unfortunately, many healthy seniors are placed into these plans even though they can qualify for a better policy at a lower cost.

Policies that guarantee coverage will all have a minimum two-year waiting period before the policyholder is fully covered. These plans should be reserved for seniors in unfavorable health or who have had a recent hospital stay.

If sleep apnea is the only health concern you are dealing with, you do not need to get this type of funeral insurance policy.

The Cost of Final Expense Insurance with Sleep Apnea

Pricing for funeral insurance ranges based on the age, health, and gender of the applicant. Additionally, the more coverage that is taken out, the higher the monthly premiums will be.

The quote ranges below span from very healthy applicants to those who are chronically ill.

How To Find The Best Burial Insurance Companies With Sleep Apnea

There are several top-rated and low-cost companies, all of them will provide coverage to seniors with sleep apnea. If you have additional health concerns that could throw up a red flag, you should also research this pre-existing condition as it could affect funeral insurance acceptance.

Even with all of this information, there are really only three things that you need to look for before applying for final expense insurance.

Coverage Start Date: Getting full coverage that begins immediately is important. Seniors with sleep apnea should never get funeral insurance with a waiting period if they are otherwise healthy.

Company Financial Rating: Apply with a company that has a strong financial rating. This rating will indicate the company’s ability to pay its claims when due.

Budget-Friendly: Make sure you can pay the premiums well into the future. Whole life insurance premiums never change, but your income might.

To find the best burial policy to fit your individual needs, whether you have pre-existing conditions or not, it is best to work with a specialized agent with access to several final expense insurance companies.

How to Purchase: Captive vs. Independent Agencies

There are two main ways that people can get final expense life insurance. While the difference is seemingly small, it can be huge for seniors on a budget.

Captive agencies can sell policies from a single company only. These agencies are the ones that usually have high brand awareness and sell across multiple lines such as home, life, and auto. Since they only have access to one provider, oftentimes, the price is high, and the underwriting is strict.

Independent agencies can represent multiple companies. These agencies can also sell across multiple lines or can be specialized in a certain area of the market. Because brokers from independent agencies have access to many providers, they can compare pricing, underwriting, and plan structure to find the best fit for their clients.

How Willamette Life Can Help

Willamette Life is an independent agency that focuses specifically on senior final expense insurance coverage.

The agents at Willamette Life understand that everyone has unique needs when it comes to burial insurance. Willamette Life is specialized, so the agents know the details of what each carrier has to offer.

Burial coverage is very specific because one company will not accept a certain condition while another company will have no issue with accepting that same condition. The agents at Willamette Life have the resources to place you with the best burial policy that fits your needs.

Final Thoughts on Funeral Insurance With Sleep Apnea

a. Affordable burial insurance with sleep apnea is possible to get, even if you use a CPAP machine at night to assist with oxygen.

b. It is imperative that you work with an independent agency specializing in this type of coverage and has a reputation for working with “high-risk” clients.

Give Willamette Life a call at 844-576-0019