Finding super low price life insurance with marijuana is not as hard as you may fear. Virtually all companies drug test, but many are starting to realize that marijuana doesn’t dramatically increase your chance of an early death like smoking tobacco.
Whether it is legal or illegal to smoke recreationally in your state, more and more insurance companies are starting to accept people who choose to smoke cannabis. Occasionally with little to no penalty. Insurance companies have no obligation to report marijuana smokers to any state or federal authority. So they won’t. It would be bad for business.
When it comes to either recreational marijuana or a medical marijuana card, there are some low cost life insurance options available for your unique situation. Many insurance companies won’t even charge smoker rates if you only smoke a few times a month.
So the good news is that it’s easy to find low price life insurance with marijuana in your system if you know where to look.
A Major Misconception About Life Insurance Pricing
A recent LIMRA survey revealed that as over 80% of Americans overestimate the cost of life insurance as much as 3x the actual price. Millennials overestimate the cost of life insurance by as much as 213%.
Anyone who has dependents relying on their income needs life insurance.
Marcan Insurance specializes in finding low cost life insurance for cannabis smokers. Whether you smoke cannabis recreationally or are a medical patient, we can find you something to fit your family situation and budget. If you call with questions, there is no obligation to buy and we promise 100% confidentiality.
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.
Why Marijuana Hobbyists May Need Life Insurance
Regardless of the reason you use marijuana, whether you ingest it recreationally or with a medical marijuana card, life insurance is a valuable financial safety net.
If you are a vital income earner with dependents or other financial obligations, life insurance is a necessary layer of protection.
The most important question you should ask yourself is:
“Can my family survive without my income?”
If the answer isn’t a resounding yes, it’s time to consider life insurance.
Reasons to Buy Life Insurance
Some of the most common reasons to buy life insurance include:
- Income replacement
- Cover debts, personal loans and outstanding credit card amounts
- Pay the mortgage or rent
- Provide for your children’s college tuition
- Business purposes such as self-employment, buy/sell agreements or key man coverage
- Leave a legacy for your children
- Cover medical expenses
- Provide for funeral and burial expenses
There are many additional reasons you might need life insurance. Loss of income can devastate a family’s future lifestyle. How will they find the money to pay for outstanding debts, mortgages, or raising children?
Low Price Life Insurance with Marijuana Prescribed by a Doctor
People who have a medical marijuana card do so because marijuana helps with their medical condition. It doesn’t matter whether you are still working full time or part time. There are many medical conditions which have little or minor impact on the cost of life insurance.
For those with more serious medical conditions and want coverage for their family, there are other alternative life insurance policies. This includes no-medical life insurance. Which means some policies can be approved without even having to answer any health questions or take a medical exam.
If you have questions about your health issues and how to find affordable life insurance then call our team of independent life insurance agents at Marcan Insurance at (888) 987-8447 right now.
Finding the Best Low Price Life Insurance with Marijuana in Your System
If you are unfamiliar with life insurance, you should know there are 2 basic types of life insurance which include:
- Term Life Insurance
- Permanent Life Insurance (Includes Whole Life and Universal Life)
For those seeking low life insurance for marijuana use you should only consider term life insurance. Most forms of permanent life insurance can easily cost as much as 10X more than what you would pay for the equivalent amount in a term policy.
How Does Term Life Insurance Work?
Term life insurance is the simplest form of life insurance available. It pays death benefits only. (Which is terrible phrasing, but it’s the industry term for amount paid out when the insured person dies.)
A term policy is sold in chunks of time such as 10, 15, 20, 25 or 30 years. Some policies are age specific such as to age 65.
When buying a policy, you have 2 decisions to make:
- Amount of coverage.
- The length of the term or how long you want the life insurance to cover you.
The majority of term policies which life insurance companies sell are known as “Level Term.” This means that both your premiums and death benefits remain the same for the length of the term you choose.
Choose your term wisely because if you need to renew a policy 20 years down the road, you might be in for a bit of a shock. Life insurance prices increase with age. Plus each policy is underwritten based on your health.
Buying Term Policies with a Conversion Feature
Most, but not all term life insurance comes with a conversion component. This allows you to convert your term policy to a permanent policy which will provide coverage for your lifetime. This can be important if you experience a significant decline in your health.
The conversion feature allows you to switch to a permanent policy without having to undergo a medical exam. You will pay a premium based solely on your age.
Low Cost Life Insurance for Marijuana Hobbyists
Below are some monthly rates on how much low price life insurance with marijuana might cost you. You will find a variety of age samples for a $250,000 term life insurance policy. We include the cost for a 30 year term.
The sample price cost will especially suit occasional marijuana users who smoke 3X or less per week. The reason is because there are a handful of life insurers which will give you “Non-Smoking” rates for infrequent marijuana use.
The rates we are going to provide are for “Best Preferred” rates which is the best rating available. There are a handful of companies who will offer the best rates to people who infrequently smoke cannabis for fun. Smoker rates may cost as much as 3 times more.
These quotes are for men, but women should be aware that they will pay much less for the same coverage.
4 Tips on Getting Low Price Life Insurance with Marijuana
There are a few additional tips below to show how cannabis smokers can save money.
TIP 1. Always Use an Independent Life Insurance Agent
Many life insurers invite you to buy online or phone them offering low cost life insurance. Don’t buy directly through a life insurance company, a company agent (also known as a captive agent), or through a call-center agency. Because they are only allowed to sell the products from a single company. Some companies are more expensive than others.
Always use an independent life insurance agency such as Marcan Insurance. Independent agents work for you and not the life insurance company. Independent agents have access to dozens of companies. They can comparison shop for you to save you both time and money. Plus, they know which companies are marijuana friendly.
This is especially important for medical card marijuana users. Every life insurer evaluates medical conditions differently. Some are much more lenient than others when it comes to their underwriting guidelines. We know which companies will give you a break for a variety of pre-existing health conditions.
An independent agent can offer you advice and find the right life insurance solution because everyone has different needs and circumstances.
TIP 2. Don’t Smoke 4 to 6 Weeks Before the Medical Exam
Most term life insurance policies require a medical exam. This includes both a blood test and urine test. If you smoke occasionally, you should avoid any marijuana for at least 3 – 4 weeks before you take the life insurance medical exam. If you smoke regularly, we recommend holding off for 4 to 6 weeks, drink plenty of water, and exercise. THC is stored within the fat cells in your body. So anything you can do to help work it through your system will only benefit you in your search for low price life insurance with marijuana.
The reason being the majority of insurance companies who will offer a “Non-Smoking Preferred Best” rate require that the active marijuana compound THC test show as “negative” before they will give you this best rating.
Should they find THC in your urine the underwriter will rate you at another rating. Each change in a rating can mean as much as a 25% in what you pay for your premium.
If you are a regular user, you don’t necessarily have to stop using. Give us a call to discuss your situation. We will guide you to the lowest cost life life insurance company for your frequency of use.
TIP 3. Don’t Volunteer Information
If the life insurer doesn’t ask you about marijuana use, your family history or other questions then don’t volunteer information they are not looking for. Answer truthfully any questions they do ask.
If this relates to health issues or how much cannabis you smoke, then always be completely truthful.
Almost all companies will check medical databases which contain a detailed history of your medical history. There are 2 primary databases they check out including the MIB (Medical Information Bureau) and the Rx (Prescription) database. They will also look at your driving record.
TIP 4. Layer Your Term Life Insurance Policies
Layering means that you buy 2 or more policies instead of just 1 large term policy. Suppose you need a total of $750,000 in coverage and a 30 year term. Let’s say you want this to cover income replacement, your mortgage, and your children’s education.
A good layering strategy might be $400,000 to cover your income, $250,000 to cover your mortgage, and $100,000 for your kid’s college education.
You could buy a $400,000 term policy for 30 years, a $250,000 term policy for 15 or 20 years, and a $100,000 policy for 10 years. By buying separate policies for specific needs and for different periods of time, you will save money because the terms are shorter. Plus, you can cancel an individual policy anytime when it is no longer required and still be insured by the other policies.
Marcan Insurance Specializes Low Price Life Insurance with Marijuana
Our independent life insurance agency focuses solely on getting the lowest rates for people who smoke or consume cannabis – both recreational hobbyists and medical marijuana patients.
At Marcan Insurance, we work for you and not the insurance companies. Our expert team of independent agents will work hard to find everyone who smokes the lowest prices available in the industry. We will guide you through every step of the process because we believe in building relationships with all our clients.
To learn how we can help you right now and find low price life insurance with marijuana use, call Marcan Insurance at 888-987-8447 because we are here to help.