Many Americans who engage in recreational marijuana use often avoid applying for life insurance.
The reasons many of you do so are often based on wrong assumptions which we will address in this article. My goal is to show that all of you who engage in recreational marijuana use can find affordable life insurance rates.
Quick Tip: If you use marijuana less than 3 times per week, view rates now by using the Instant Quotes form on this page. Enter your information; Select “NO” for smoker and “Regular Plus” for health class. Scroll down to the rate for “Prudential”. This will give you an idea of cost.
A very few of you may even find approval for a “Preferred Best” rating. This rating is the absolute best rating you can obtain when applying for life insurance.
One of the most common reasons why people don’t apply for life insurance is that they fear possible legal prosecution. This is completely wrong and we will explain why you have no reason to fear any legal ramifications whatsoever.
The other main reason is the erroneous belief that you will pay too much for a policy. You might believe that you will be automatically penalized because of your recreational marijuana use.
This is partially true but the reason is not because of the consumption of marijuana itself. It’s rather because of how it’s consumed such as through smoking the product. And, it’s partially because of the chemical components of the marijuana as some medical evidence shows there may be potential health complications.
Let’s dispel these misconceptions and let me show you how Marcan Insurance can help you find very affordable life insurance for recreational marijuana use.
How Recreational Marijuana Use Stands in the U.S. Today
Recreational cannabis use was initially declared illegal in America in 1937. It would remain illegal throughout the U.S. until 2012. Marijuana is the 3rd most popular recreational drug used world wide. As many as 44% of adult Americans who were polled admit to using the drug.
Although marijuana remains illegal under federal law, many individual states have begun to take a different approach. Some have allowed the use of medicinal marijuana. Others have decriminalized the use of cannabis. Other states have legalized the medicinal and recreational use of pot.
Currently, 15 states have decriminalized the recreational use of marijuana. 33 states allow the medicinal use of marijuana. 10 states and Washington, DC, have now legalized marijuana for recreational use for adults over age 21.
Canada legalized marijuana federally in 2018. Mexico’s Supreme Court ruled that marijuana prohibition is unconstitutional. This may enable Mexico to follow Canada’s lead.
Clearly, the landscape is changing in how recreational marijuana is being perceived from a legal perspective.
Life insurers are also adapting to these legal changes. There was a time when just about all life insurers would have given you an automatic decline if THC (Tetrahydrocannabinol – the psychoactive compound) was found during a life insurance urine test.
Many, but not all, life insurers have taken a more proactive and lenient approach when it comes to recreational marijuana use. We will discuss this later on in the article in much more detail.
Let’s dispel the first myth about possible legal ramifications when disclosing your use of marijuana to your life insurance agent, or during the life insurance medical exam.
Your Legal Rights for Recreational Marijuana Use Are Fully Protected
Regardless of what state you live, you have absolutely nothing to fear about any manner of criminal prosecution by disclosing your use of marijuana.
It does not matter whether you live in a state which has decriminalized recreational marijuana use, or live in a state where it is still illegal. Your admission about using cannabis for recreational purposes will not be disclosed to any legal authority when you apply for life insurance. This applies to all levels of the entire life insurance application process.
The reason is because any and all aspects of the life insurance process must remain completely confidential and is protected by the HIPPA laws (Health Insurance Portability and Accountability Act 1996). These laws are also rigorously enforced by the U.S. Office of Civil Rights. This department guarantees the privacy of any health information which you disclose.
The information you provide cannot be shared with either your employer or even your spouse. All information you provide to your life insurance agent, the life insurance medical examiner or an insurance company MUST REMAIN COMPLETELY CONFIDENTIAL.
Is There a Difference Between Recreational and Medicinal Marijuana Use
The answer is yes. Life insurance companies will view recreational marijuana use differently from medicinal marijuana use.
The main reason why life insurers take a different approach is because medicinal marijuana is being used to treat a medical problem. A life insurer will want to know what health condition is being treated. Just because you have been prescribed medical marijuana doesn’t mean you will be declined or have to pay more.
One person might have been prescribed medical marijuana to improve their appetite or help alleviate anxiety. Another person may have been prescribed medical marijuana to help alleviate nausea from chemotherapy because of cancer treatments. The two health conditions are vastly different so each medical condition will be assessed on a case by basis.
Will every recreational marijuana user be treated the same? Again, the answer is no.
If you use the drug on a frequent basis, you may be assessed smokers rates. There are still some companies that will decline an application for heavy recreational use.
However, there are a number of life insurers which are much more lenient if you only use marijuana occasionally such as once or twice a month.
There are a limited number of life insurers which will assess “Non-Smokers” rates for occasional use up to 3x/week.
Here at Marcan Insurance we know which life insurance companies are marijuana-friendly. Contact us today for confidential help and guidance. We are on your team and work for you; not the insurance companies.
What If I Lie About My Recreational Marijuana Use?
Many people might be tempted to lie about using marijuana. You MUST NEVER LIE ABOUT USING MARIJUANA when it comes to applying for life insurance.
And, if you are using marijuana for a medical condition, you must never claim it is for recreational use.
There are several reasons why you must always be completely truthful about using cannabis when you apply for life insurance.
First, the medical exam which entails both a blood and urine test will reveal the existence of THC in your system. These tests will not only reveal the existence of THC in your blood/urine system – they will also reveal the levels of THC.
You also cannot hide the fact that you are using marijuana to treat a medical condition. There are 2 main databases which EVERY life insurer will use including:
- MIB (Medical Information Bureau – which provides coded reports on any medical condition for which you receive treatment
- Prescription Database – Also known as Rx database which reveals any prescriptions you have been prescribed
Additionally, every life insurance policy has what is known as a “2 year contestability period.” This means that if you were to die within the first two years of the onset of your policy, the life insurer has the right to complete a full investigation into your background.
Should the life insurer discover that you lied about using marijuana, they could decline your claim. Your beneficiaries, who are most likely going to be your family, will not be able to benefit from your life proceeds.
It’s simply not worth the risk to ever lie about anything, including recreational marijuana use, when it comes to applying for life insurance.
How Life Insurers View Marijuana
There are many ambiguous studies about the health effects of marijuana. Some studies have identified the existence of carcinogens in the complex chemical compound of marijuana. Other studies site that the use of pot can cause biochemical changes in the brain which may lead to psychological disorders.
Some medical studies claim that marijuana users who heavily smoke the substance can lead to oral, pharynx, esophageal and lung cancer.
Some of you may wonder whether you will be treated differently by an underwriter if you use marijuana edibles or tinctures. In states where marijuana has become legal, marijuana edibles are a popular choice for those who don’t smoke.
The best answer I can give is that most insurers currently treat cannabis edibles and smoking the same simply because the health risks associated with THC are unclear. This may change down the road.
How Do I Find Affordable Life Insurance for Recreational Cannabis Use?
The main question every cannabis user asks is: – Where can I find the most affordable life insurance company if I use marijuana?
Your first step in find finding the most affordable life insurance policy if you smoke marijuana is to always use an independent life insurance agent.
Independent life insurance agents, such as the ones here at Marcan Insurance, have access to dozens of the best life insurers in the country. We specialize in helping marijuana users get approved for life insurance at the lowest rates. We know which companies are the most lenient when it comes to cannabis. Use our expertise to help save you time and money on your life insurance.
Not all life insurance companies are the same when it comes to underwriting a policy if you use marijuana on a recreational basis. Some insurers are still very conservative. Other companies are much more lenient.
You do not want to use a “captive agent” or a “call center agency.” You especially do not want to just simply call the life insurance company direct and apply for a policy. None of these approaches will get you the most affordable rates, and you might even be declined!
A captive agent only represents a single insurer. You are stuck with their particular underwriting policies and will pay the rate they charge. Call centers agents are pressured to make sales. They do not act in your best interest and you will likely not get the best rates through them either.
Applying to a life insurance company itself is the same as applying through a captive agent because you have no choice in how they rate you and in what they charge.
What Is The Most Affordable Life Insurance for Recreational Marijuana Use?
There are 2 types of life insurance policies available which include:
- Term Life Insurance
Term life insurance is the MOST BASIC and MOST AFFORDABLE form of life insurance available. Most Americans are better off buying term life insurance. This is the one we would recommend for most recreational marijuana users.
Term life insurance is something you buy in periods of time such as 10, 15, 20, 25 or 30 years. Some policies are age specific meaning it will be in force until a particular age, such as age 65, for example.
This type of policy pays death benefits only. Most policies have a conversion feature which allows you to convert the policy to a permanent policy without having to take a medical exam. This can be very important if you have to renew your policy and your health has declined. A conversion feature will allow you to do so without having to take a medical exam.
Permanent life insurance is more expensive than what a term policy costs. However, these policies may last for your entire lifetime. There is no need to worry about buying or qualifying for another term policy in the future. These policies may also contain a cash accumulation feature which grows tax-free over the life of the policy. These policies include Whole Life, Universal Life, and Indexed Universal life. There are many hybrid variations of these policies which vary from company to company.
Not sure what kind of policy you need? Contact us to discuss your situation. We will guide you to the best policy type and lowest cost policy for your needs.
Marijuana-Friendly Life Insurance Companies for Recreational Use
Which life insurance companies give the best rates when it comes to recreational marijuana use?
You should be aware that many life insurers who do approve policies for marijuana users are likely going to rate you at what smoker’s pay.
The big difference between some life insurers is that many insurers will charge smokers rates whether you smoke marijuana regularly or only occasionally.
However, there are a number of life insurers that will allow the infrequent use of marijuana where you can get a policy for “NON-SMOKERS” rates. This can mean a HUGE SAVINGS because smokers typically pay as much as 3 – 4 TIMES what a non-smoker would pay for a policy.
You can even potentially qualify for a “Preferred Best” health rating. If you are in otherwise excellent health and don’t use tobacco products, this rating is possible! However, your urine test must come back as negative for THC.
Many other insurers may assign you a “Standard Non-Smoking” rate which still means a much lower premium than a smoker.
Recreational pot users usually don’t qualify for the very best nonsmoker rates. But, they can qualify for standard nonsmoking rates with other companies
Even lenient life insurers will vary in how they access occasional users. One insurer might only allow the use of marijuana once a month, while another might give non-smoking rates if you use marijuana less than once a week. This can make a big difference on what you pay. Only independent agents with industry experience will know which frequency limits each insurer allows!
Even if you do use marijuana on a frequent basis and worry about the cost, the rates that insurers charge for smokers can also vary significantly. You will pay more as a smoker. However, working with an independent agent at Marcan Insurance will help you secure the lowest premium for your exact circumstances.
Recreational Marijuana Use and No-Medical Exam Life Insurance
If you smoke marijuana recreationally, and have severe health conditions, or just don’t want to bother with the complex process in buying life insurance, there is another alternative. It’s called no-exam life insurance.
Some of these policies will require that you answer some medical questions, while others do not. There are 6 types of no-medical exam policies which are available. Some of these are only suitable for particular situations, but not for others. Usually, you can be approved for a no-exam policy in less than 48 hours.
The biggest attraction for no-exam policies is their convenience. But, there are also several drawbacks which you should be aware. The first and most important is that they cost more than an equivalent term policy which does require a medical exam. No-exam policies can cost as much as 3 TIMES MORE than what you would pay for an equivalent term policy which requires a medical exam.
The reason no-exam policies cost more is because the life insurer is taking a bigger risk in insuring you. This is because they have a lot less medical information in how they can access your life expectancy. Also, the amounts of coverage available are generally a lot less than traditional life insurance.
And, the cost from insurer to insurer can also vary quite significantly. Many companies that sell this insurance encourage you to buy from them online. We recommend that you do not do so. You won’t get the best rates or the best policy for your particular circumstances.
Give us a call if you need life insurance, use marijuana and don’t want to take an exam.
What if I don’t want to admit to use on my life insurance application?
At Marcan Insurance, we have some life insurance companies that don’t ask about marijuana use. If the question is not asked, you don’t have to admit to use. These are no-exam companies so an exam is not required. These will not be the least expensive options, but they will allow you to keep your marijuana use confidential. Contact us and we can provide rates and help you apply with one of these companies.
Bottom Line for Recreational Marijuana Use
The underwriting criteria and approach for recreational marijuana use is still in a state of flux and continues to evolve. There is absolutely no reason why you should be concerned when it comes to applying for life insurance if you use cannabis.
I cannot emphasize enough the importance of using an experienced independent agent. There are still many life insurers that take a very conservative underwriting approach when it comes to recreational marijuana. If you apply with the wrong life insurance company, you could pay more than you need to or be declined altogether.
On the other hand, there are a number of very friendly marijuana friendly life insurers. We represent these companies and will guide you to the best one for your situation.
Don’t be afraid to give us a call if you have any questions or concerns about your recreational marijuana use because we are happy to help.
If you want to get a quote or even to start the application process, we can do that today. Don’t leave your family unprotected because everyone needs that vital financial security net to protect their loved ones.
Contact Marcan Insurance today at 888-987-8447. We will help you get approved and save money on your life insurance if you use recreational marijuana.