Marijuana and Life Insurance Exams, What You Need to Know.


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People who use Marijuana and need to take a life insurance exam probably should read this article. In 2023, life insurance exams are not always necessary and being a marijuana user doesn’t mean paying higher than a kite life insurance rates. The future is looking much brighter for pot smokers and life insurance to harmoniously co-exist. Stoners are no longer stuck in the weeds because pot friendly life insurance companies exist and want your business.


Myths With Marijuana and Life Insurance Exams:


Smart consumers research topics that interest them. Consumers who do their homework and educate themselves seem to get ahead. Needing accurate info on the truths related to pot and life insurance are important. The data below will debunk the misconceptions around smoking weed and life insurance in 2023.

Living in Denver, Co, there are plenty of people using marijuana. Plenty of friends and neighbors have asked me about life insurance exams and marijuana use. Any professional licensee has to maintain continuing education credits. Along with the required reading its important to learn about alternative topics. Marijuana and how the different life insurance companies view pot use continues to be an evolving topic. The alternative is to apply blindly and risk being charged a premium as a smoker.  Its surprising to find out how relaxed some providers may be. As a matter of fact, weed-friendly life insurance companies exist all over. That’s why working with an independent knowledgeable broker is important.


The Perception of Marijuana has Changed:


Marijuana-friendly life insurance companies have become more common in the past decade. Whether you have been called a stoner, pothead, weedwhacker, or a toker; don’t let the past dictate your future. Using marijuana and risking a label through societies lens no longer means you are forced to pay tobacco rates or worse. The stats out there today are actually pretty shocking. Considering the conservative middle of the country where legalization has not taken hold yet. The research from a recent Pew report says 6 out of 10 Americans support marijuana legalization.

Medical and recreational marijuana use has forced the insurance industries hand. They had  to conform to the changing environment. With so many states legalizing marijuana use, the insurance industry has changed how an applicant takes and are able to pass a life insurance drug test. The use of marijuana is evolving, not just in a legal sense, but also when it comes to applying for life insurance. As mentioned above, recently, pot smokers experienced leniency in the life insurance industry and are finding affordable rates. Medical marijuana users who want Life Insurance should read below to qualify for the lowest prices for life insurance.


Prescribed Marijuana and Life Insurance:


There are plenty of pot smokers buying life insurance. During the application process a common underwriting question will be, “Is the marijuana use, recreational or prescribed? “The life insurance industry looks at a prescription for marijuana differently than recreational use. Underwriters will look into the use of marijuana to determine if it’s for an actual treatment or just drug use. From there, affordable rates may be available depending on the exact usage.

Pot smokers who have a prescription can qualify for best rates from companies like Prudential. As long as the prescription is not for pain management nor major mental health disorders. Prudential Life Insurance thinks anxiety and insomnia are great reasons to need a script for marijuana. So great, that if you otherwise are a preferred best risk, they won’t think differently. Prudential is one of the most weed-friendly life insurance companies out there in 2023.

Marijuana prescriptions and a need for life insurance might be more difficult if treating a serious illness. They will first base the rating on the underlying conditions. There is no reason to worry about passing a life insurance drug test as THC is not tested. One factor might be looking into your illness to determine whether or not the use of marijuana is needed. Major depression, breathing disease, and pain management might be a concern of the underwriters regardless of pot use. On the other hand, a prescription for medical marijuana for lyme disease, may not be treated any different. It’s to be expected that underwriters will be interested to hear more about how the lyme disease affects overall health prior to approving someone for coverage.

Rates with a script will vary per company as some will consider smoking pot like a cigarette smoker and some won’t. If you are ingesting MJ vs smoking, then more companies are in your corner. Transamerica might call a pot smoker a cigarette smoker while Lincoln & John Hancock will not.  All three will rate your case on the underlying condition of the script.


Recreational Pot Use and Life Insurance:


LFG (known as Lincoln Financial) is probably the most lenient company to do business with if you smoke pot and do not have a script. Here is their most recent definition: Assuming no substance abuse and no current psychiatric history without tobacco, best offers is avail for 1x/month or less. Preferred Non Tobacco for 2x/week. Standard Non Tobacco and up for more frequent use. Brigthouse Life  (formerly known as Met Life) is next in line. They will offer best rates for use of 4x or less/week, but more than 4x/week and they are not as nice.

North American & Mutual of Omaha, will offer non- smoker standard rates for testing negative for THC, but admit to use in last year. Therefore, these carriers might be a good resource for those that might use it 1x/month or less. Other companies consider using weed 1-2x/month as a non-smoker and might have better offers. While many other companies like Banner Life, AIG, Protective Life, and Principal, will call you a smoker, just like your buddy who smokes a pack of Kools.


Passing the Insurance Drug Test


The life insurance industry has changed regarding marijuana The urinalysis test and lab work for life insurance hasn’t changed. As a result most applications require labs that are subject to a drug test.. Other drug use can be a major reason to decline or rate an applicant. Testing positive for other drugs or proof of heavy alcohol use could negatively impact underwriting decision for life insurance.

The insurance industry doesn’t test for pot use, only hard core stuff like cocaine and methamphetamine. Some of the life insurance companies who insurance pot smokers will basically call any user a “tobacco user.” As an example, inhaling smoke, like smoking a joint  will deem you a tobacco user. While on the other side, If using a vaporizer or edibles, some companies might provide non smoking rates for life insurance.


Find an Independent Broker to Talk to:


It’s mind-blowing to see the advancements made in the field of marijuana use and the life insurance industry. Most noteworthy, regardless of prescribed or recreational, over half the companies want to earn new business. It is now a reality for marijuana users to get affordable premiums on their life insurance.

Take pride in how you handle the underwriting process. It can be difficult and strenuous and that’s where we come in. Let us help you! Marijuana users unsure how to handle the underwriting process do not need to fret. Goldsmith Insurance can guide you through answering the questions the right way to get the best results.

Checking the marijuana use box doesn’t mean “no” from life insurance providers. The good news is, marijuana users can qualify for good life insurance rates. Contact us asap to find out.

Written by Sam Goldsmith and Valerie Sherer