Marijuana Use And Life Insurance: Testing Thresholds

Marijuana use has become more widely accepted and legalised in many states, and this has had an impact on the life insurance industry. While not all life insurance companies ask about marijuana use, most of them do, and it's important to be honest about your usage. Most companies will test for THC through blood and urine samples, and some may differentiate between smoking and ingesting marijuana. The frequency and quantity of marijuana consumed will also play a role in determining rates, with occasional use potentially qualifying for non-smoker rates, while daily use could lead to higher premiums or even a decline.

Honesty is the best policy

Honesty is always the best policy, especially when it comes to life insurance and marijuana use. While it may be tempting to withhold information about your marijuana use to secure better rates, being upfront and honest is the wisest course of action. Lying or misrepresenting your marijuana use on a life insurance application can be considered insurance fraud, leading to serious consequences such as application rejection or coverage denial. Moreover, dishonesty may disqualify you from obtaining coverage in the future as other insurers may be reluctant to insure individuals with a history of deception.

It is important to understand that life insurance companies are primarily concerned with assessing your overall risk profile. Marijuana use, whether medicinal or recreational, is just one factor among many that they consider. Other factors include your age, gender, health status, lifestyle habits, and even your driving record. By being honest about your marijuana use, insurers can accurately evaluate your risk and provide you with appropriate coverage options.

The good news is that societal attitudes towards marijuana are evolving, and the insurance industry is adapting its guidelines accordingly. An increasing number of states have legalized marijuana, and insurers are recognizing that marijuana users represent a diverse range of risk profiles. As a result, some companies are more lenient towards marijuana use, especially when it is occasional or medicinal. Independent agents or brokers can be invaluable in helping you navigate the landscape and find insurers that offer the most favourable rates for marijuana users.

When applying for life insurance, you will typically undergo a medical exam that includes blood and urine tests, which can detect THC, the active compound in marijuana. These tests can reveal your THC levels and determine if you have been truthful in your application. Remember, THC can remain detectable in blood tests for up to 36 hours and in urine tests for up to 30 days, depending on frequency of use. Therefore, it is crucial to be honest about your marijuana use to avoid any discrepancies between your application and test results.

In conclusion, honesty truly is the best policy when it comes to life insurance and marijuana use. By being transparent, you can secure appropriate coverage that provides financial protection for your loved ones, while also avoiding the potential pitfalls of insurance fraud. So, be honest, shop around for insurers that align with your unique circumstances, and rest assured that you are making a responsible decision for yourself and those who depend on you.

Marijuana-friendly insurers

Marijuana use can impact the cost of your life insurance, and some insurers will decline your application outright if they catch you lying about your usage. However, there are some marijuana-friendly insurers that offer affordable rates for marijuana users.

Lincoln Financial

Lincoln Financial is one of the best-rated marijuana-friendly life insurance companies.

Brighthouse Financial

Brighthouse Financial is another highly-rated insurer that is friendly towards marijuana users.

Corebridge Financial

Corebridge Financial treats infrequent marijuana users as non-smokers, and offers affordable rates for people with a number of health conditions, including diabetes, heart disease, and chronic kidney disease. Corebridge also offers non-tobacco rates for those who use a dry herb vaporizer.

Prudential

Prudential is a good option for those who chew tobacco. The company considers non-tobacco rates for those who use a dry herb vaporizer.

Symetra

Symetra considers non-tobacco rates for those who use a dry herb vaporizer.

Marcan Insurance

Marcan Insurance specializes in knowing which life insurance companies are marijuana-friendly. They can help you find the best health rating for your policy, which means you pay the lowest price.

It's important to note that most marijuana-friendly insurers will still categorize you as a tobacco smoker if you use marijuana edibles, tinctures, or vape. However, some marijuana-friendly insurers will offer a non-smoker rate if you haven't used cigarettes in at least 12 months.

Medical vs. recreational use

Marijuana has gained popularity for its medicinal properties, and many states and governments have legalized its use. However, recreational marijuana still faces legal challenges that affect its availability and accessibility. In this context, it is essential to understand the differences between medical and recreational marijuana use and how these uses are perceived by life insurance companies.

Medical Marijuana

Medical marijuana is used to treat various medical conditions and ailments. It is often chosen as a treatment option for its anti-inflammatory, anti-anxiety, anti-oxidant, anti-carcinogenic, and antipsychotic properties. Medical marijuana is available for patients of any age with a qualifying condition and a state-issued medical card. Medical marijuana patients can buy larger quantities (up to 2.5 ounces every two weeks) compared to recreational buyers. Additionally, medical marijuana is subject to lower taxes than recreational marijuana, making it more financially accessible. Medical cannabis is also more potent than recreational cannabis, as it is specifically designed to treat medical conditions. The cultivation and production processes for medical marijuana are more controlled and stringent to ensure patient safety.

Recreational Marijuana

Recreational marijuana is consumed by users without a medical justification. It often contains higher levels of THC, the compound responsible for the "high" feeling. While THC has medicinal benefits, its psychoactive nature may not be desirable for those seeking marijuana solely for health reasons. Recreational marijuana users face legal restrictions, such as higher taxes, limitations on purchase quantities, and smoking in public places. Additionally, recreational users do not have protection from employment discrimination based on their marijuana use.

Life Insurance Perspective

Life insurance companies do consider marijuana use in their underwriting process. Most companies will test for THC levels through blood and urine tests. It is essential to be honest about your marijuana use during the application process, as lying may be considered insurance fraud and affect your eligibility or increase your costs. Some companies may differentiate between medicinal and recreational marijuana use, with medicinal use viewed more favorably due to its medical necessity. However, frequent marijuana use, regardless of purpose, may result in higher rates or classification as a smoker.

Frequency and quantity

The frequency and quantity of marijuana use are key factors that life insurance companies consider when determining policy premiums. While marijuana use does not automatically disqualify an individual from obtaining life insurance coverage, it can impact the rate offered and the classification of the applicant.

Most life insurance companies aim to gain a comprehensive understanding of an applicant's health and lifestyle before granting a policy. This includes information about their marijuana usage, such as frequency, quantity, and method of consumption. Some companies may classify "occasional" use as once or twice a month, while others may define it differently. Daily marijuana use is generally viewed less favourably and may lead to higher premiums or even a decline in coverage.

The method of consumption also plays a role in the underwriting process. Smoking marijuana is considered less favourable than consuming it through edibles, oils, or vaporizers due to the potential health risks associated with smoking. Additionally, some companies may differentiate between medicinal and recreational use, with medicinal use being viewed more positively, especially if it is prescribed for certain health conditions.

It is important to note that insurance companies may have different thresholds for what constitutes "occasional" or "heavy" use, and they may also have varying levels of risk they are willing to accept. Therefore, it is advisable for marijuana users to shop around and compare rates from different companies to find the most affordable coverage.

Furthermore, honesty is crucial when applying for life insurance. Lying or misrepresenting marijuana use on an application can be considered insurance fraud and may lead to disqualification or increased policy costs. Being truthful about marijuana usage allows underwriters to accurately assess risk and provide appropriate coverage.

Smoking vs. ingesting

When it comes to marijuana use, life insurance companies are primarily interested in the frequency of use, the method of consumption, and the purpose of use (i.e., medicinal or recreational). While not all life insurance companies ask about marijuana use, most of them do.

Life insurance companies may differentiate between smoking marijuana and consuming it through edibles, oils, or vaporizers. Smoking marijuana is often viewed similarly to tobacco smoking by insurance companies, and as a result, marijuana smokers may be offered tobacco rates, which are significantly higher.

However, ingesting marijuana in the form of edibles or oils may result in non-smoker rates, as there is no direct smoking involved. Additionally, medicinal marijuana use is generally viewed more favourably than recreational use. If you are using marijuana to address a medical concern, insurers will likely be more interested in the underlying health condition being treated rather than the marijuana use itself.

THC Testing

Life insurance medical exams typically include blood and urine tests, which can detect THC, the active compound in marijuana. THC can show up in a blood test up to 36 hours after marijuana use and in a urine test for much longer, between three and 30 days, depending on the frequency of use. Therefore, it is essential to be honest about your marijuana use during the application process, even if you may not test positive for THC. Lying or misrepresenting your marijuana use may be considered insurance fraud and can lead to disqualification or increased costs.

Finding the Right Policy

The cost of life insurance for marijuana users can vary significantly depending on the company and their guidelines. Some companies, like Corebridge Financial, offer affordable rates for infrequent marijuana users, treating them as non-smokers. Comparing quotes from multiple companies is crucial to finding the most affordable prices and ensuring you are not categorized as a tobacco smoker. Hiring an independent agent or broker can be beneficial, as they can help you navigate the different company policies and find the best option for your specific situation.

Frequently asked questions