I Smoke Marijuana! Can I Get Life Insurance?

That’s an interesting question that continues to be asked due to the rapid change in perception of marijuana. Now that most Americans view legalization as favorable, states continue to pass legislation regarding both the medical and recreational usage. However, legislation is doing much more than just allowing individuals to smoke with many other industries like life insurance taking advantage of the opportunity. These companies see huge potential in the vast number of individuals who need life insurance but never sought it out in the past. Because of this opportunity and my expertise, I will give my insight into the three most important variables that may affect your ability to get life insurance.

  1. Usage
  • Marijuana usage is interesting because you can be classified as an occasional cigar smoker all the way to a chronic cigarette smoker
  • Marijuana Usage typically will fall under one of three following categories: a few times a year, occasionally, and frequently.
  • The most important thing to consider is to disclose your usage to your agent as that will determine what risk class you fall under
  1. Risk Class
  • A few times a year: Generally, will qualify you for premier or preferred grade.
  • Occasionally: Traditionally lumped into the standard nontobacco category. This will give you a much better rate that that of a smoker and a larger death benefit.
  • Frequently: Typically broken down by daily, weekly, or monthly usage.
    • Daily: For many companies this can result in a decline of policy
    • Weekly or Monthly: May be classified in the standard tobacco group or even standard nontobacco depending on the carrier.
  1. THC on Labs
  • Generally, most companies will not allow you to take out a policy with a positive test but not always the case.
  • Exceptions are based on cause or other factors pertaining to your usage.

The most important takeaway is that regardless of how much you smoke you are still able to get life insurance. The issue is that maneuvering life insurance can be tricky so be sure to disclose your usage to one of our giggle agents. At Giggle, we have some of the best marijuana life insurance agents in the business so be sure to visit giggleinsurance.com to get the best quote for your situation.

The information contained herein neither constitutes nor is intended to constitute an offer, inducement, promise, or contract of any kind. The information and descriptions contained in this article are intended as general information and are not necessarily complete descriptions of all terms, exclusions and conditions applicable to products and services. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation.

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