Understanding Life Insurance and Marijuana


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If you use marijuana, insurance is not always the easiest thing to obtain, especially if you don’t know which companies are willing to work with you.

But, don’t be intimidated by the insurance companies. Just take it one step at a time and you’ll find the coverage you’re looking for with little to no headache. This goes for other issues you may face as well, such as seeking life insurance with diabetes, we are here to help you find the company that will work best for you and your needs!

Classifying Marijuana
Let’s start with the classification of marijuana as a drug and compare it to some other drugs. Marijuana is a schedule I drug according to the DEA. A schedule II drug listed is cocaine on the same page.

If someone is a cocaine user, do you think they’re getting life insurance? You can probably answer the question on your own. Yet if someone is a marijuana user, which is technically a substance listed in a higher schedule than cocaine, you can still get life insurance. So what kind of conclusions can we draw from this in regards to insurance?

Each insurance company is liable to pay the claims for the policies it writes. If someone applies to an insurance company and is accepted, having disclosed the use of marijuana, not only is it not necessarily a decline, but you can get a great rating. So it’s not really the legality which an insurance company is looking for, but something else. Obviously they are much more worried about having to pay the claim.

But the underwriters aren’t just looking at marijuana as a schedule I drug, and they aren’t just reviewing how you use it. In fact, they aren’t just looking at the long term effects, either. Those are just pieces of the bigger puzzle.

When considering life insurance and medical marijuana, you need to remember why you are medically allowed to use the marijuana in the first place. Too many applicants get excited they can get life insurance as a user, but forget the underlying reason why they’re using in the first place.

Medical marijuana can treat a lot of symptoms, and the number will likely increase in time as more research is done. Here’s a few:

Chronic Pain
Nausea
Seizures
Inflammation
Stress
Anxiety
Spasms
But symptoms like these stem from something. Medical marijuana isn’t simply going to be issued to someone who has had one case of symptoms, but rather a series of them. The insurance company is not only worried about the symptoms, but why you have the symptoms as well.

If your symptoms stem from something like arthritis, cancer, epilepsy, hypertension, or any other disease which results in your issuance of a medicinal marijuana prescription, you’ll need to find out if you can still get life insurance with the attributed disease, not just the marijuana use resulting from the symptoms.

In short, you’ll need to be prepared to qualify for life insurance in all areas, not just the use of the marijuana.

What Does the Carrier Look at?
Your current health is going to comprise of the basics: normal blood pressure, normal cholesterol, a healthy weight, and nothing major medically wrong with you. You can be on a few prescriptions, diet regimens, or even vitamins without getting a ding on your insurance profile. The insurance company is looking for major ailments in this category, such as cancer or someone looking for life insurance with lupus.

Your medical history is similar to your current health, but it’s a bit more involved. Your medical history record might have information on it such as surgery you may have had, and out patient procedures, or specialists you’ve visited in the past. If you’re a female, things like pregnancy can also be looked at for a history of something like gestational diabetes.

Your driving record is also considered, and most people who apply don’t think about it. But just because you’ve had a ticket or two, don’t be alarmed. Things to watch for are DUI’s, counts of reckless driving, a high volume of tickets (I’ve seen a driving record with 27 tickets speeding tickets!), or other major and hazardous driving offenses. If you rolled through a stop sign once, you’ll be just fine!

Talk To An Independent Agent
There’s two kinds of insurance agents: Captive and Independent. A captive agent is an agent who works for just one insurance company, like State Farm or Nationwide. These agents, with a few exceptions, only write business for the insurance company they work for, and won’t give you many options other than the type of insurance that one particular company offers.

And independent agent is one who is not affiliated with any one single carrier. An independent agent offers multiple companies. This means they can not only shop your rate for you, but find insurance companies who are more lenient for different things, such as marijuana smoking.

This will create a greater likelihood you’ll find a company willing to give you a good rating, as opposed to dealing with just one company who won’t be so easy to work with. Using a knowledgeable, independent agent will increase your chances of finding the right company the first time, so you don’t have negative results or multiple hoops to jump through.

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