Experien Insurance Services interact with many life insurers to arrange cover for its clients. We may be able to help you apply for Life Insurance and associated products like Income Protection Insurance if you have Sleep Apnoea. Each life insurers may have a different framework for responding to applicants with this condition..
When you apply for disability or life insurance, the life insurer will usually conduct a risk assessment process called “underwriting”. This allows the insurer to assess your health and consider whether to offer cover and, if so, with any potential non standard conditions such as a higher than standard price or an exclusion. Occasionally, the insurer may decline to provide you with cover.
An underwriter may request:
• A copy of the sleep study results to determine the severity of the sleep apnoea
• Information from the treating doctor in regards to treatment and compliance
• Information regarding any other medical conditions present as well as weight.
If the applicant is undergoing treatment, a subsequent sleep study may be required. The results will help determine the effectiveness of the treatment and its impact on the Apnoea-Hypopnoea Index .
The applicant’s occupation will also be considered carefully as daytime sleepiness and jobs involving driving or use of heavy machinery will produce a combination of poor risk factors.
Motor vehicle accidents have been shown to be two to five times more frequent in people with sleep apnoea compared to those who don’t suffer from the condition. (Lung Foundation Australia, ‘What is obstructive sleep apnoea?’, Lung Foundation Australia, Sept 2014, accessed 24 May 2021)
Underwriting outcomes will range from standard rates through to decline, but most often will attract a premium loading
The insurer may seek further information from you over the telephone or via a written questionnaire. With your consent, they may write to your treating doctor for more detailed information. They may also require a current examination including blood pressure readings. Insurers will pay the costs for this.
This is general information and limited in its scope. If you are considering buying or replacing and a Life Insurance policy then contact us to arrange a review for you. We can consider your individual circumstances, goals and needs and recommend a suitable insurer, product and structure to use. Experien work with several insurers and have extensive experience in helping to arrange claims.
At the time of writing, Life insurance and Financial Advice services are provided by Experien Insurance Services Pty Ltd (EIS) ABN 99 128 678 937 and Experien Financial Services Pty Ltd (EFS) ABN 32 631 346 757. EIS and EFS are a Corporate Authorised Representative (No. 320626 and No. 1274354) Count Financial Limited ABN 19 001 974 625, AFSL 227232. See our website for our Financial Services Guide and latest AFSL arrangements. Always read the Product Disclosure Statement issued by an Insurer before considering insurance.
