You may be accepted for a life insurance policy with some life insurance companies if you are a marijuana smoker, even if you smoke illegally. Life insurance carriers typically differ on the way they treat marijuana smokers. If an applicant divulges that they have smoked marijuana in the previous three years, they may not be eligible for their preferred non-tobacco rates.
The more widespread treatment of marijuana smokers, especially with some states allowing medical marijuana, is leading life insurance carriers to categorize them as smokers. Which means: they may pay what a cigarette smoker in similar health would pay.
Read the page about life insurance for smokers to learn more.
On the other hand, there are carriers who feel that since smoking marijuana is illegal in most places, they may not make life insurance policies available to marijuana smokers. Marijuana can be used to treat a variety of serious medical conditions. An applicant is likely to be offered non-tobacco rates but there will be a full medical probe to find out the reason for this type of treatment. If you are a special event marijuana smoker and wind up paying a smokers’ premium, the best answer is to get the insurance you need for the time being, pay the smokers’ premiums, and stop smoking marijuana. When a year has passed, reapply for a life insurance policy with a different insurance carrier. If your health is the same, you may likely be offered a standard non-tobacco rate. This new rate will generally cost less.
The only way to qualify for this rate is to advise the agent of your marijuana use on your application. Not only is hiding this information considered fraudulent, it may also result in a death benefit not being paid. If the policyholder conceals the fact that they smoke marijuana and they die within two years of obtaining the policy, the carrier typically may have the right to look into the deceased medical records. If the policyholder has died from a smoking-related illness and these records show a presence of THC, they could be denied benefits.
To learn more about the rates for smokers, read “How to Find Non Tobacco Life Insurance Rates after Quitting.” Life insurance applicants may be able to rest assured that if they smoke marijuana illegally, and reveal this on their application, their information is protected by HIPAA laws which means their agent is prohibited from discussing it. Admitting to smoking marijuana may not result in any legal actions against the applicant.
