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Life Insurance For Marijuana Consumers

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life insurance marijuana consumerBy Allen St. Pierre, NORML Executive Director

One of the most asked questions received at NORML over the years has been ‘I smoke cannabis and I want to purchase or increase my life insurance, what companies provide underwriting?’

A very informative news piece from LifeHealthPro provides an excellent overview of life insurance companies and their current policies regarding offering coverage to cannabis consumers-be them recreational consumers or medical patients:

Ratings for the Marijuana User

Marijuana usage is not viewed as other drugs such as cocaine, for example. Testing positive for THC will not lead to a flat rejection of a life insurance policy. However, the use of this substance can result in receiving a cigarette smoker’s rates, which are substantially higher than those of a non-smoker.

Life insurance classifications for a marijuana user are guidelines and are not set in stone; they can change at any time per the company consideration. Also other health conditions could change consideration.

American General: Smoking marijuana more than twice monthly could result in the rates of a smoker with the possibility of a table rating. Smoking two times per month will set the rating as a standard non-smoker. Applicants who smoke two times a year or less could be rated as a preferred best non-smoker.

– Banner Life:  Applicants could be considered a standard smoker with occasional use. They could be rated as a substandard table B smoker with daily use.

– Columbus Life:  Applicants over 25 years old who smoke pot experimentally to intermittently might get standard smoker rates. Moderate use could be a table 2 rating.  Heavy use will be declined.  Other drug use will also be a factor.

Fidelity: A standard smoker classification will be given if there is any marijuana use in the past 12 months. However, an applicant be classified as a sub-standard smoker if medical marijuana is prescribed.

Genworth Financial: Applicants who use marijuana eight times a month or less could be classified as a standard smoker. Users who smoke more than eight times may be considered a sub-standard smoker. Also, this company does not recognize prescription use of marijuana.

ING Reliastar: If marijuana is prescribed, users could be classified as a Table 4 Smoker. With daily use, they could be classified as a preferred smoker.

– Lincoln Benefit: If a prescription is shown on one’s medical records and usage is stated on the application, applicants could be classified as a non-smoker. Occasional users without a prescription can be classified as a standard smoker.

Lincoln National: Applicants can use marijuana up to two times per week and be classified as a standard non-smoker.  Usage of 3-4 times a week will result in a sub-standard Table B non-smoker rating. Applicants will be declined if they use marijuana more than four times per week.

Met Life: Applicants who otherwise would merit a preferred plus rating and uses marijuana occasionally (once a month to once a week) could get a preferred plus non-smoker rating. (More than once a week is equivalent to a smoker’s rate.)  Daily use could be a table 4 rating. Heavy users could be declined.

– Mutual of Omaha: Applicants will rate as a standard nons-moker with up to weekly use.  If lab results indicate more frequent usage, then smoker rates will apply.

– Minnesota Life: Applicants who test positive for THC could be given a smoker table 3 rating. Occasional or recreational users will be given preferred non-smoker rates but will have to test negative for THC.

– North American: Applicants over 25 years old who use marijuana 3-8 times per month could be rated a standard smoker. If they use 8-16 times a month they could be rated as high as a table 2 smoker. More than 16 times a month will be declined.

– Protective Life: Marijuana use could result in a standard smoker rating.

- Prudential Financial: Using marijuana up to two times per month and testing negative for THC will qualify applicants as a standard plus non-smoker. A Table B non-smoker (even with THC positive lab tests) rating will be applied if usage is up to four times per week. Usage over four times weekly will be declined.

– Transamerica – Marijuana smokers could be considered a standard smoker rate class with no other health issues.

Final advice from LifeHealthPro: Applicants who already have a life insurance policy in force may be paying unnecessarily high rates. Each company’s insurance underwriters view the use of marijuana differently. Don’t let your clients pay high life insurance premiums if less expensive alternatives are available.  

Read entire article @ LifeHealthPro

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  • Davey Dave

    Vixxis, good question. Quite a few carriers will go non-smoker for those who use ingestibles. I am a multi-carrier wholesaler and one of my brokers just placed a non-smoker rate on a very large policy with one of the carriers listed above.

  • Davey Dave

    Neal, it’s the smoking part of it. Several carriers will go with non-smoker rates (including several listed above) if the usage is with ingestibles.

  • Liran Hirschkorn

    I always go with Prudential or Lincoln when I have a client who uses marijuana. With medical marijuana it is possible to get the best rates with Prudential – the decision is based on the medical reason you are using marijuana – if it is for something minor like insomnia for example then you can get preferred plus non smoker.

  • Mr. Bogart

    Once marijuana is legal in every state and changed on a federal level, new insurance companies will be popping up all over the US just as they have for people who skydive.

  • Neal Feldman

    What horse crap!

    No credible studies have shown there to be ANY significant long-term damage or hazard from smoking cannabis. None.

    So what allegedly justifies these ridiculous policies of companies as if cannabis smoking were no different than tobacco smoking?

  • Vixxis

    What is disturbing about this is that cannabis use is classified as “smoker” in most of these company comments. What about use of a vaporizer? How can this be considered a form of smoking when there is no combustion involved? Of course ingestion of cannabis via edibles, drinks etc being lumped with smoking is completely misclassified. Why should cannabis users, specifically medical cannabis users be subjected to higher rates when no correlation to smoking related health disorders exist?