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Marijuana and Life Insurance: A guide for marijuana users who want to buy life insurance

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Can I get life insurance if I smoke marijuana?

The simple answer is Yes. Marijuana usage is not an automatic decline when applying for life insurance. But the more often you smoke marijuana, generally, the higher the cost of your life insurance policy.

Some life insurance companies are more strict with admitted marijuana use than other life insurance companies. As an independent life insurance broker, Quotacy can shop your case to different insurance companies advocating on your behalf to find the one that will offer you the best price for your life insurance coverage.

How does marijuana impact life insurance rates?

When you apply for life insurance, the life insurance company evaluates the information you provide to determine how much of a risk you are to insure. Your level of risk categorizes you into a particular risk class.

Each life insurance company has their own guidelines they follow when determining these risk classes. Some life insurance companies will give marijuana users tobacco risk classes while other insurance companies may even be willing to offer their best non-tobacco risk class. Applying with a life insurance company that will offer non-tobacco risk classes to marijuana usage has the potential to save you hundreds of dollars each year.

Example: 35 year old male, 2-3 times per week.

Jack is a 35-year-old male who lives in Washington where recreational use is legal. He admits to using marijuana 2-3 times per week. He is applying for a 20-year term life insurance policy with $250,000 in coverage.

Insurance Company A offers Jack Standard Plus Non-Smoker. His monthly premiums would be approximately $30.

Insurance Company B offers him Tobacco Table B. His monthly premiums would be approximately $95.

Insurance Company C declines him for coverage.

*For price comparison, the estimated cost of a $250,000 20-year term life insurance policy for a healthy 35-year-old male in Washington state who does not use marijuana is about $14 per month.

Example: 35 year old male, once per month.

Steve is a 35-year-old male who lives in Washington where recreational use is legal. He admits to using marijuana once per month. He is applying for a 20-year term life insurance policy with $250,000 in coverage.

Insurance Company A offers Steve Preferred Plus Non-Smoker. His monthly premiums would be approximately $21.

Insurance Company B offers him Standard Non-Smoker. His monthly premiums would be approximately $25.

Insurance Company C offers him Standard Smoker. His monthly premiums would be approximately $65.

*For price comparison, the estimated cost of a $250,000 20-year term life insurance policy for a healthy 35-year-old male in Washington state who does not use marijuana is about $14 per month.

Example: 35 year old male, daily.

Glen is a 35-year-old male who lives in Washington where recreational use is legal. He admits to using marijuana daily. He is applying for a 20-year term life insurance policy with $250,000 in coverage.

Insurance Company A offers Glen Smoker Table B. His monthly premiums would be approximately $95.

Insurance Company B offers him Standard Smoker. His monthly premiums would be approximately $80.

Insurance Company C declines him.

*For price comparison, the estimated cost of a $250,000 20-year term life insurance policy for a healthy 35-year-old male in Washington state who does not use marijuana is about $14 per month.

Note: It is difficult finding life insurance coverage for applicants who admit that they use marijuana on a daily basis. Even if it is legal in your state. Weekly and monthly users will have more affordable coverage options.

Because marijuana use is still illegal on the federal level and because the long-term risks are relatively unknown, the life insurance industry as a whole is understandably hesitant to accept it with open arms. However, using marijuana recreationally or medicinally doesn’t mean you cannot get approved for life insurance, so don’t let your fear of being denied keep you from applying. Apply for life insurance through Quotacy and your dedicated agent will work hard to find you the life insurance company that matches best with you.

Life insurance basics for marijuana smokers

What if I stopped or plan to quit using marijuana?

If you purchased life insurance and were given a tobacco risk class and then later quit using marijuana, you can reapply at no cost to see if you can be approved at a cheaper rate than what you’re currently paying. We recommend that you wait to cancel your current life insurance policy until your new one is 100% inforce.

Plans to quit using marijuana won’t have any impact on your life insurance application. The life insurance companies will underwrite your current status.

How do life insurance companies underwrite marijuana use?

Life insurance companies evaluate (underwrite) marijuana use differently. Some are more lenient than others.

When evaluating an applicant, certain factors come into play when dealing with marijuana usage:

  • Whether the use is recreational or medicinal;
  • If medicinal, what the malady is;
  • How the marijuana is used (whether smoked, vaporized, pill-form, liquid-form, oil-form, eaten, transdermal, etc.);
  • How often marijuana is used.

When dealing with marijuana use, underwriters are going to pay a bit more attention than usual to other medications the user may be on, their driving records, and their medical history.

If marijuana is used for medical purposes, oftentimes the insurance company will underwrite and determine the risk class based on the medical condition rather the marijuana use.

Do life insurance companies test for THC?

Most life insurance companies automatically test for marijuana and THC (tetrahydrocannabinol). To buy life insurance, most applicants need to get a quick medical exam. The medical exam includes a blood and urine sample, both of which can detect marijuana in the system. Marijuana can be detected in urine up to 90 days after use for a heavy user.

Does CBD affect buying life insurance?

No. Life insurance companies do not care if an applicant uses any form of CBD (cannabidiol). CBD products (without THC) will not affect your life insurance rates.

What happens if I lie about using marijuana on my life insurance application?

Don’t lie about your marijuana use on your life insurance application. On most life insurance applications, there is a question that directly asks if you use marijuana. Life insurance underwriters will be very skeptical if you answer No but then your life insurance medical exam test results or medical records say otherwise.

If you lie about using marijuana on your life insurance application and they discover during their underwriting process that you do use, your application may be denied or your life insurance rate will increase. If you die and it’s later discovered you lied about your marijuana use, your beneficiary’s death benefit may be denied or reduced.

There is no reason to lie about your marijuana use. Quotacy works with many top-rated life insurance companies and can help you apply to a life insurance company that is lenient with marijuana usage.

What if I use prescription marijuana for a medical condition?

When an applicant uses medicinal, or prescription, marijuana, life insurance companies “underwrite based on medical condition”. This means that rather than classifying risk based on the medical marijuana use, they are going to classify based on why you use the medical marijuana.

Most—but not all—states have legalized the use of medical marijuana. However, medical conditions that qualify for medicinal marijuana varies by state.

Some common qualifying medical conditions include:

  • Cancer
  • Glaucoma
  • HIV/AIDS
  • Hepatitis C
  • ALS or Lou Gehrig’s Disease
  • Tourette’s Syndrome
  • Crohn’s disease
  • PTSD
  • Severe arthritis
  • Fibromyalgia
  • Alzheimer’s disease
  • Cachexia
  • Migraines
What life insurance companies are best for marijuana users?

The life insurance industry is ever-changing to keep up with societal norms and new mortality statistics. The legalization and overall view of marijuana use is changing all the time as well.

Because not all life insurance companies underwrite the same way, working with an independent life insurance broker, like Quotacy, is the best way to get coverage if you’re a marijuana user. Your dedicated Quotacy agent will take a look at your application before it gets officially sent to the life insurance company. They will match you with the life insurance company that will offer you the best price possible.

Not sure how much term life insurance you need?

Helpful Advice for Those That Use Marijuana

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Individuals who smoke can still be approved for life insurance. You can also buy life insurance if you chew, vape, or use cessation products. Here we explain how the different types of tobacco use affect your cost of life insurance.

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How Does Marijuana Use Affect Life Insurance Rates?

Marijuana use doesn’t equal an automatic decline when applying for life insurance. Some life insurance companies are even willing to offer their best prices to occasional marijuana users.

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Substance Abuse and Life Insurance

Anyone currently abusing a substance will be declined for life insurance coverage. However, recovering addicts and those with a history of substance abuse can still get life insurance coverage. How much time has passed since use is the biggest factor.

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