Can Life Insurance Be Denied Due to Smoking Weed?
It is easy to get confused about whether to report cannabis use to a life insurer. Possession of cannabis, a Schedule 1 drug, is a federal offense, and yet it is legal in many states. Will your insurer argue with the government for using it? Will your insurance be denied?
First, insurers are not going to jail potential clients, so you have nothing to worry about. In fact, if you don’t smoke every second hour and don’t have a marijuana-related DUI, getting life insurance as a cannabis user will be easier than you think, albeit a little more expensive.
Don’t lie about cannabis use
As part of thelife insurance underwriting process, you are often required to undergo a medical examination. Along with your medical history, your current health condition determines the health classification that will affect how much you pay for premiums. It’s tempting to lie, but remember that THC can be found in blood or urine for days or weeks .
Also, some companies will rate you more favorably if you report your cannabis use but don’t test positive for THC on an exam, so abstaining at least a month before is a good idea. (You should also avoid using CBD oils as they can test positive for marijuana in drug tests.)
What’s more, the biggest reason you don’t want to lie is because the insurer can access your medical records, prescription history, and driving records. It is easy for them to catch you lying at any point in your policy, and as a result, they can increase your premiums, cancel your insurance, or even challenge your payment after you die. To make matters worse, if you are denied life insurance because you lied on your claim, this information is shared with other insurers through what is called the Medical Information Bureau (MIB).
Shopping around
Companies differentiate their cannabis use policies based on frequency of use, from rare (eg twice a year) to daily. Some believe that smoking cannabis for recreational purposes of any kind can make you a “smoker,” and according to Policygenius, such a policy could be 200% more expensive than non-smoking rates. Others, however, are much more forgiving and allow you to use them almost daily, not counting you as a smoker. Your best bet is to shop around.
According to QuickQuote, the average life insurance rate for a smoker is $ 83 per month or $ 992 per year. They also have a good breakdown of what kinds of policies are available and how they differ.
Other factors can affect your premiums:
- Cannabis inhaled or swallowed? You can get a discount if you quit smoking.
- Medicinal Use: Your rate may vary based on the underlying condition.
- Your age. Some rules only allow recreational use beyond a certain age, such as 25.
- All in all, having cannabis-related DUIs in your track record is … not good.
Bottom line
Not all life insurance companies will cover you if you use cannabis, but you can probably find one that will. While the factors vary, you will always get the best price if you remain in good health and do not smoke frequently.