I think you’ll agree with me when I say it’s hard to find life insurance when you smoke marijuana. Some companies flat out decline, some companies charge you a lot and others seem too good to be true.
It turns out it’s actually really easy to find the best life insurance company if you’re a marijuana user. This article will cover how some of the top life insurance companies view marijuana smokers. Life insurance for marijuana smokers comes down to your specific use and fitting that into a life insurance company’s underwriting.
There are a few misconceptions about how marijuana users view life insurance. Just know that marijuana use does not disqualify you from purchasing life insurance. In fact, most life insurance companies will insure you.
At Rootfin, we’ve helped hundreds of pot smokers secure life insurance at affordable rates. How are we able to do this? Easy. We simply did our homework. We know how every carrier looks at marijuana smoking.
With that knowledge, all we need to do is ask questions regarding your use of marijuana combined with any other health issues, then we will find a carrier that could possibly be a company that offers no medical exam life insurance.
The key in finding the most affordable rates (whether you smoke marijuana frequently or occasionally) is getting you non-smoker rates. Smoker rates will more than double your premium.
Here are some of our findings (pay special attention to the italicized “Non-Smoker“):
- If you smoke 2 times a year or less, you can get Preferred Best Non-Smoker rates.
- If you smoke 2 times per month or less, you’re at Standard Non-Smoker.
- If you smoke more than 2 times per month, you’re considered a smoker with a possibility of a table rating.
- You cannot show THC on your labs.
Legal and General (formerly Banner Life)
- Occasional use will be Standard Smoker.
- Daily use will start at a substandard Table B Smoker rate.
- Standard Smoker if there is any use in the past 12 months.
- If you are over the age of 26 and smoke 2 times or less per month, you can get Standard Non-Smoker rates.
- If you smoke 2-4 times per month and over age 26, you’re at Standard Non-Smoker Table 8 rates.
- If you smoke 1-4 times per week, you’re at Table 8 Smoker.
- If you are under the age of 26 and if you smoke more than 4x per week, you’ll be declined.
- 1 time per month and you can get preferred plus Non-Smoker rates.
- 1-2 times per week is preferred non-tobacco.
- 3-4 times per week is Standard to Table 2 non-tobacco.
- 4-6 times per week is Table 2 to Table 4 non-tobacco.
- If you smoke daily, it’s a decline.
- You cannot show THC on your labs
- 1-4 times per week is preferred non-tobacco.
- If you smoke daily, it’s Table 4-Table 8 non-tobacco rates.
- You cannot show THC on your labs.
- 3 times per month or less per month is standard non-tobacco.
- 4-8 times per month will be rated and a case by case basis.
- More than 8 times per month is individual consideration to decline.
- THC on labs must match admitted usage.
- Occasional and recreational use of at Preferred Non-Smoker, but you have to test negative on your labs.
- If they find THC in your system, it’s a Smoker Table 3 rating.
- Standard Smoker at best for any amount.
- Could be substandard or decline depending on usage and if recreational or medical.
- For marijuana use up to 2 times per month and a negative lab result, you can qualify for Standard Plus Non Smoker.
- For use up to 4 times per week, it will be a Substandard Table B Non Smoker (can be positive on labs).
- Over 4 times per week is a decline.
- Standard Non-Smoker rates if you smoke less than 12 times per year.
- 13 or more times per year and you will have Standard smoker rates.
For a more updated list of life insurance companies and how they view marijuana smokers, go here.
These are just some of the tons of carriers we represent. As you can see, it’s about fitting your marijuana use into the life insurance company’s underwriting guidelines.
First, you want to find out if any life insurance company will give you “non-smoker” rates, and then you want to compare those rates from each company.
This is why we help marijuana users avoid companies like Prime America, which only works with term life insurance for people who have good health and no potential adverse habits. Contact us especially if you’re looking to get a larger policy such as a million-dollar insurance policy, we at Rootfin can help you look into all of your options!
If you’re a marijuana user and your life insurance agent hasn’t done the research we have, call one of our agents or fill out the form. We’ll find the best rate you can qualify for.