Life insurance for marijuana uses

Eighteen states now allowing Marijuana for medicinal use. The real truth is this substance is commonly used in all 52 states without prescription. Each life insurance company has its own guidelines and underwriting rules. Therefore the use of marijuana is viewed differently by each carrier.

With so many states legalizing the medical benefit of this drug, now the life insurance companies have no choice of declining their clients using marijuana with or without a prescription.

The following tips will help clients get approved for life insurance if they use marijuana.

  • Disclose the marijuana use information upfront.
  • Generally, marijuana shows up on blood or urine tests;
  • Fill out the additional questionnaire if required.
  • Underwriting decision is based on the reason for use as well as how often.

Some companies will rate applicants as standard smoker, and double the premium compared to a nonsmoker while others are flexible for occasional use. However, the use of this substance may result in receiving a cigarette smoker’s rate which is double.

Certain insurance companies, applicants can use marijuana up to two times per week and can be classified as a standard non-smoker. Applicants will be declined by almost every life insurance company, if they use marijuana more than four times per week.

If you are a marijuana user, based on thousands of our client’s experience, I would suggest or and compare rates from Lincoln and Mutual of Omaha to qualify for standard non-smokerrates.these two companies are very flexible on marijuana uses. Agents, please don’t let your clients pay high life insurance premiums when less expensive alternatives are available.