Life Insurance And Marijuana: A Joint Topic

Life Insurance And Marijuana: A Joint Topic

Chances are, you’ve seen or read about the growing interest surrounding marijuana in the news – both for recreational and medicinal use. Several states have legalized marijuana for recreational use while others have passed medical marijuana laws allowing for limited use.

What does this mean for marijuana users looking for life insurance coverage?

In the past, we saw offers ranging anywhere from Table Ratings with Tobacco rates to flat out declines. Now, with recent improvements to underwriting guidelines, some carriers may consider marijuana users at Non-Tobacco rates, assuming that applicants are forthcoming on their applications.

Take a look at some possibilities:

  • Preferred Best Non Tobacco is available for recreational use from 4 to 8 times a month
  • Table 2 to 4 Non Tobacco is available for everyday recreational use, but any final outcome will depend on the client’s other daily habits and review of medical records
  • For medical marijuana use, all outcomes are based on the underlying condition for which the marijuana is being prescribed; Could also qualify for Non Tobacco rates

Contact the Life Underwriting Department for more details regarding these smokin’ opportunities.