It’s just a little bit of weed. No big deal, right?
Is it possible to still get affordable coverage if I smoke pot?
Luckily, in the insurance world the answer to these 2 questions have vastly improved in recent years. The purpose of this article is to explore everything that you need to know concerning affordable life insurance for people who smoke marijuana.
Note: This guide is about ways to obtain affordable life coverage as someone who smokes marijuana.
We go through and answer all the important questions pertaining life coverage and smoking marijuana.
What Is the State of Current Marijuana Legislation?
What Are the Life Coverage Industry’s Views on Marijuana Use?
Will I Face Prosecution if I Admit My Marijuana Use to My Insurer?
How Does Marijuana Use Compare to Tobacco Use in Terms of Health Risks?
What Classifications Do Insurance Companies Place on Marijuana Smokers?
Does it Matter if Marijuana Is Ingested Instead of Inhaled?
Does the Fact That My Marijuana Use Is Medically-Prescribed Affect My Rates?
What Happens if I Test Positive for Marijuana During My Exam?
As a Marijuana User, What Are the Best Companies to Apply To?
What Happens if I Lie About My Marijuana Use on My Application?
Does Marijuana Use After Approval Affect My Coverage?
What Is the State of Current Marijuana Legislation?
Marijuana is legal for prescribed medical use in 23 states and the District of Columbia.
Of those states, 4 and DC have also legalized recreational marijuana use.
Similar legislation has failed to pass in other states. Other states have similar legislation that has yet to be voted on, which means that the number of states with favorable marijuana laws is set to increase.
It is unmistakable that the tide of opinion toward marijuana is changing.
44% of Americans are not in favor of marijuana legalization while 53% are. It is only a matter of time before it is legal in all 50 states and at the federal level.
Therefore, it should not matter much if you like to smoke the occasional joint, right?
You certainly will not be smoking alone. Marijuana has long been America’s favorite illegal drug. The 2015 Gallup pull shows:
• Over 40% of Americans have tried marijuana
• 10% have admitted to using it regularly
What Are the Life Coverage Industry’s Views on Marijuana Use?
It is easy to imagine that since there is such a changing trend in views on marijuana that coverage providers might start taking a relaxed view and lower premium charges associated with marijuana use.
Fortunately this is exactly what it is happening.
A survey by Munich American Reassurance Company states that marijuana users are now able to avoid having to pay the same rates as smokers at around 30% of life coverage providers.
Only 20% do not have an official policy outlined for marijuana users, and most are set to produce one soon.
The trends in the industry are pretty clear.
What does all this mean for marijuana users currently looking for coverage?
It has 2 general implications:
• You are no longer automatically classified as a smoker. Smokers can pay from 2 to even 4 times the standard rates!
• Insurance providers are more willing to treat marijuana use on a case-by-case basis, so you can shop around for the best deal
Will I Face Prosecution if I Admit to Marijuana Use to My Insurer?
No.
But it is a smart question to ask anyway.
Even if you live in one of the states where marijuana use is still illegal, you do not have to worry about disclosing your use on an insurance application form in terms of criminal charges.
The reason why is:
All life insurance providers operate under the regulations of the HIPPA. The HIPPA regulations state that a life insurance provider is never allowed to divulge your information to another organization, such as a law enforcement agency.
Your drug use history will only ever be used by the insurers to determine your rates. There is no need to worry about this.
How Does Marijuana Use Compare to Tobacco Use in Terms of Health Risks?
The purpose of this section is not to provide information about the dangers of marijuana use. Informing yourself is your responsibility.
However, it is critical to know certain facts because that is the basis that the life coverage providers will base their decisions on.
The links between marijuana use and cancer are less clear than those surrounding tobacco use. There are conflicting studies on the matter, such as the International Journal of Cancer that say there is no connection and the British Lung Foundation that says there is. As research continues, insurance providers will update their policies accordingly.
That said, THC (the active chemical in marijuana) still causes irritation to the lungs and can lead to breathing problems. It has also been shown to increase heart rate for several hours after use.
Chronic marijuana abuse has been associated with the development of mental disorders, such as paranoia, hallucinations, depression and anxiety.
Here are some myth-busting facts.
There is evidence that marijuana is actually addictive.
Some studies demonstrate an 11% addiction rate among users. This number then increases to 17% with those who began smoking during their teen years and goes as high as 25-50% for those who smoke on a daily basis.
Bottom line: Smoking pot may be better than smoking cigarettes from the viewpoint of many coverage providers. Just be sure you apply to the best one.
What Classifications Do Insurance Companies Place on Marijuana Smokers?
Most life coverage providers do not put marijuana users in the same classification as users of more dangerous drugs, which carry a significant risk of overdose or death. If you currently use or have used other drugs in the past, this will definitely be accounted for when the premium rates are determined.
The precise classification, and corresponding rate that you pay, will vary from provider to provider. Certain providers might classify you as simply a “non-smoker” if you have been prescribed marijuana for treatment of a legitimate medical problem. Even the more relaxed providers might also classify you in the “non-smoker” category if you consume no more than 1 or 2 marijuana joints each month.
However, despite this growing trend, many insurance providers continue to apply “smoker” status to marijuana users, so be sure to apply to the right place.
In the extremes, there are providers that will outright reject your application if you are someone who smokes 8 or more marijuana joints each month.
The big question is how often you use.
Frequency of use is the main thing providers consider when they are determining the rate of your premiums, which should come as no surprise.
If you are the typical person who tried it a couple of times decades ago at college, it is unlikely to make a difference. If you have been regularly smoking more than 3 joints a day for the last decade, then they will take that into account and charge higher premium rates.
When is the last time you used?
Of much less importance than frequency, the date that you most recently used marijuana is important for 3 reasons:
Imagine you’ve only smoked marijuana twice in your life, but both times were in the last week, this indicates an increased risk that you will start smoking more regularly than if the times were in the past and spread apart.
The more recent your last usage, the more likely you will test positive for THC during the medical exam.
There will be more about the medical exam discussed below, for now let us say that a positive test will usually lead to higher premium rates.
More recent usage may also lead to suspicion that you are being dishonest in your statement about your marijuana usage habits.
Just as with tobacco use, the added premiums you pay for marijuana use will also depend on yours and your family’s health histories.
The habits or prescriptions for you marijuana use are only part of the information that will be used in determining the effect on your premium rates.
Does it Matter if Marijuana Is Ingested Instead of Inhaled?
Not really.
The Good News: Consuming marijuana-infused food means that there is no smoke-inhalation. It would make sense then that coverage providers should ignore marijuana ingestion. Unfortunately this is not the case.
The Bad News: Marijuana-infused foods have raised fears about overdoses due to the ability to consume large amounts at one time. These items have large doses of THC and the delay before the “high” can lead to over-consumption.
Insurance providers evaluate both of these factors, and in this case the good generally cancels out the bad.
Bottom line: As of right now, coverage providers are not allowing any added leniency for ingestion instead of smoking. As attitudes toward marijuana use continue to change, these policies may change as well.
You can contact us at our office to get the most current available information about obtaining affordable life insurance coverage if you smoke, vape or eat marijuana. Our only concern is life coverage, so we stay on top of issues like this to better serve you.
Does the Fact That My Marijuana Use Is Medically-Prescribed Affect My Rates?
Potentially.
Because it is the duty of coverage providers to examine every aspect of your health, your marijuana use is only part of the matter.
Generally speaking, having a prescription is looked on more favorably than recreational smoking, which seems fair.
You were given the prescription in accordance with a treatment regimen for a health condition, while recreational users are just enjoying themselves. However, why was this prescription issued? What was the reason for it?
Marijuana is prescribed for a wide array of reasons, including illnesses, diseases and symptoms.
The insurance provider will examine the reason for the prescription, not just the prescribed amount. The reason for why you need a prescription could lead to much higher rates than the prescription itself.
Bottom line: If your medical marijuana prescription is for a condition that does not otherwise impact your premium rates, then you are in better shape than the person who used marijuana for recreation. However, if it is prescribed for a significant condition, you will be rated according to the risks associated with that particular condition.
What Happens if I Test Positive for Marijuana During My Exam?
As in the case of tobacco, it is safe to expect that most providers will require you to get a full medical exam to complete your application.
There exist options for insurance coverage without medical exams, but they definitely will cost significantly more because the coverage provider has little information with which to make a judgment on your viability for insurance.
Barring some serious circumstance that limits your ability to take a full medical exam, it is highly recommended that you get a standard policy that uses medical exams if you want to get low premium rates.
It is of the utmost important that you be honest and accurate when disclosing your marijuana consumption in your application form.
Being just an infrequent user, it is quite possible to achieve a negative result for THC in your medical exam. Achieving a negative result might lead to lower premium rates, which would be to your benefit.
How Do Coverage Providers Test for Marijuana?
The test is based on the THC metabolites that appear in your urine. You urinate in a cup, and then that cup is sent to be analyzed in a lab.
For How Long After Use Can THC Still Be Detected in Urine?
This is largely dependent on the frequency with which you use marijuana.
• Single User: up to 3 days
• Moderate User: 5 days to 1 week
• Daily User: between 10 and 15 days
• Heavy User: over 30 days, and potentially as long as 90
On top of frequency, these other factors may have a part to play in the length of time that THC traces remain:
• Body fat ratio
• Weight
• The potency of the marijuana you used
It is recommended that you do not use any marijuana for at least 30 days before a medical exam to be sure that no traces are found.
However, even if you are confident that your test will be negative, you should still disclose your usage to avoid committing insurance fraud.
Bottom line: If you are legally able to test negative for THC in your medical exam, it will only aid you in achieving the best premium rates.
As a Marijuana User, What Are the Best Companies to Apply To?
The best advice is to look for providers that consider marijuana users to be non-smokers, which can save you 50% or more on premium rates!
For people who use marijuana up to 3 times each week:
Prudential: up to 3 times each week with a prescription, and you can still qualify for their non-smoker Preferred Plus premium rates!
Lincoln Financial: up to 2 times each week will allow you to apply for standard non-smoker premium rates
Occasional marijuana users:
Met Life: Preferred Plus non-smoker premium rates
America General: Preferred Plus non-smoker premium rates, but only if you use 2 times each year or less
There exist several other viable options, but your general health picture will be a major factor in deciding where you should apply.
If you use marijuana more than 4 times each week, you can be assured that you will be assigned tobacco smoker premium rates.
If this is the case, do not focus as much on the actual marijuana. Achieving the lowest rate will come from finding the provider who offers the lowest premium rates based on everything outside your marijuana usage.
Just always keep in mind that the insurance industry attitude toward marijuana is changing rapidly.
For example:
Prudential in 2015: up to 3 times each week and you will still be considered eligible for the top health class.
Prudential in 2013: no more than 2 times each month, and the test for THC had to be negative in the medical exam. A substantial difference!
Your best bet is an independent broker who has a feel for the changing marketplace, and can find the best provider given your specific circumstances. Be sure you are prepared with information about your marijuana usage and other lifestyle habits. Please contact us with any questions you may have.
What Happens if I Lie About My Marijuana Use on My Application?
You are an occasional user, and you are sure that you can go without marijuana long enough to get a negative result for THC in your medical exam.
Is it really necessary to discuss your marijuana usage in the coverage application?
Yes it is and here is why:
It is plain and simple insurance fraud.
If your marijuana use gets discovered at some point during your application process, then you will never qualify for the best premium rates. It may also lead to a heightened suspicion on the part of the provider that other parts of your application are false, and they might discover even worse omissions.
If you do die within the first two years of the policy date, then the insurance provider is entitled to perform an investigation before having to pay out the benefit. They will examine records, and if they manage to discover any evidence of marijuana use in your history, then they will have grounds to deny your claim, based on your material misrepresentation on your application, which might have originally led them to either refuse your coverage or only provide coverage at a higher premium rate.
Bottom line: Just do not do it, since you can get such affordable rates as a marijuana user. If you happen to die during the policy’s first 2 years and they perform an investigation, could you handle the thought that your beneficiaries are denied the benefit?
Does Marijuana Use After Approval Affect My Coverage?
Life coverage providers do all of their calculations to find out one piece of information: how likely are you to die during the term limit of the insurance policy.
So what do they do about the day after you get insured? What happens when you start using marijuana or you increase your usage drastically?
This same principle is applied to lifestyle changes, including any use of drugs you decide to partake of after your new insurance policy takes effect.
However, do not forget about the 2 year period of contestability. The coverage provider will look into all of your application information before it pays out the benefits of your policy. They will ensure your honesty at the time of application.
Remember that premium rates will vary widely between different providers.
It is very important for you to understand the way the different carriers will assess your specific situation. Looking at different providers will result in your best chance at getting the best possible life insurance coverage at affordable premium rates.
The secret for achieving the lowest rate involves being placed in an coverage policy with the provider who looks at your specific situation in the best light.
For marijuana users, obtaining life coverage can be a difficult process if you try to take on the big insurance providers alone.
We are coverage broker specialists that only sell coverage, and we take our profession very seriously. Click here to get a fast and free term life quote now.