Just because you use marijuana doesn’t mean you can’t get life insurance or that your premiums need to be sky high. Things are looking up for marijuana users these days in terms of life insurance, and affordable policies are a reality.
If you use marijuana and are looking for life insurance, we suggest looking through our archives and reading the marijuana related articles that apply to you.
Marijuana Life Insurance Misconceptions – There are many misconceptions out there when it comes to marijuana use and life insurance. Read through this article to find out what you should believe and what you shouldn’t.
How Life Insurance Companies View Marijuana Smokers – Every life insurance company views marijuana smokers differently, but you might be surprised just how relaxed about the issue some of them can be.
Medical Marijuana and Life Insurance – If you’re a marijuana user and are looking to obtain life insurance, this is the article for you. We go over everything a marijuana user needs to know before applying for life insurance.
The world is quickly changing for people who smoke marijuana. This is true for things in a legal sense, as well as when it comes time for you to apply for life insurance. Just a few years ago, if you applied for health insurance and you smoked marijuana, you were seen only as a pot smoker. Now that things like medical marijuana are becoming much more mainstream though, the situation is much different for cannabis smokers.
The biggest thing that will affect your premiums, is whether or not you are prescribed medicinal marijuana. If you are simply a recreational marijuana smoker, then your underwriter may view this as drug usage, and will be less likely to grant you affordable rates on your premium. If, on the other hand, if you have been prescribed medicinal marijuana by your doctor, then this could be seen favorably.
The exception to this though, is if the medical marijuana is used to treat another serious illness. Similar to other illnesses where the medicine isn’t controversial, they will still need to take your illness into consideration. So if you are prescribed medical marijuana for your glaucoma, you may not be treated any different because of the marijuana, but your underwriters will be interested to hear more about how your glaucoma affects your over health and medical condition before approving you for coverage.
You may also be subject to a drug test during the underwriting process. Many marijuana users are also known for using other illegal drugs. Even if this doesn’t apply to you, it doesn’t mean your underwriters won’t want to know more about any other possible drug use. If you test positive for any other illegal substances, then there’s a very good chance your application would be declined.
Also, depending on the insurance company, even if everything else is in order, ythey may only approve you for smokers rates. This is because even though you may be using marijuana under the direction of a doctor in a legal manner, you are still inhaling smoke which is not healthy for your lungs. Some people avoid this issue by using a vaporizer or by ingesting their marijuana orally, and in that case, they may be able to obtain non-smoker rates.
It is pretty amazing the advances the life insurance industry has made in the field of marijuana use in just the past few years. While any type of marijuana use, legal or otherwise, won’t help you on your life insurance application, it doesn’t need to hurt you either. It is still very possible for marijuana users to get affordable premiums on their life insurance.
The most important part is how you handle the underwriting process, which can be difficult for many people. If you are a marijuana user and unsure of how to handle the underwriting process, we are here to help. We can help you answer the questions the underwriters ask, and then shop your info around to several providers to get you the best rates possible. This helps you to avoid the hassle of calling each provider and going through the underwriting process several times, and also can get you lower rates than you could get on your own.
So if you’re a marijuana user and concerned about getting good rates on your life insurance, contact us today and let us help you get an affordable premium.
(Marijuana underwriting guidelines below updated in October 2016. Lots of favorable changes!) 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 […]
So you’re in the market for life insurance and medical marijuana is a concern of yours. Lets cut to the chase. We’ve been helping medical marijuana users secure life insurance coverage since it became legalized by prescription. We’ve been featured in Wall Street Journal’s MarketWatch (article link) as an expert in this subject and help […]