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Best Life Insurance Companies for Marijuana Users

marijuana symbol

Finding the best life insurance company as a marijuana user can be challenging.

Marijuana use remains a contentious issue in the country even today, especially in the insurance industry.

Some companies have very strict underwriting policies with respect to marijuana use while some others are more lenient in their approach.

In this piece, we discuss how marijuana use affects your insurability, how you can get the best rates as a marijuana user, and the five best life insurance companies for marijuana users.

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Can Marijuana Users Qualify for Life Insurance?

This is one of the questions that often come up while discussing the topic of marijuana use. The short answer is – yes, you absolutely can get life insurance if you use marijuana – either for medical reasons or for recreational purposes.

There are many marijuana users who do not apply for life insurance because they mistakenly believe that they might not qualify at all or they might be charged exorbitant rates, which they might not be able to afford. This is not true at all.

  • First of all, marijuana use does not automatically disqualify you from getting life insurance. There are many insurance providers who accept marijuana users and issue policies for them.
  • Second of all, marijuana use does have an impact on the cost of an insurance policy. At the same time, it does not mean that all marijuana users have to pay through their nose for an insurance policy. The rate you will be charged depends on a number of factors, which we will discuss in detail in the next section of the article.

How Does Marijuana Use Affect Your Insurability?

Insurance companies generally consider the following factors while determining the insurability of a marijuana user.

Frequency of Use

How often do you smoke or use marijuana? If you use every day, you are likely to be treated like a smoker, in which case you will be charged a higher rate. If you, on the other hand, are an occasional smoker, you might be classified as a non-smoker, in which case your premium is likely to be very low.

  • If you use marijuana only once a month, you can qualify for a ‘Preferred Best’ rating (the highest possible rating), which is usually reserved for non-smokers in excellent health.
  • If you use twice a month, you can qualify for a ‘Preferred Non-Tobacco’ rating, which is the second highest rating offered by insurance companies.
  • If you use three or four times a month, you can qualify for a ‘Standard Non-Tobacco’ rating. While the rates are slightly higher compared to ‘Preferred Best’ and ‘Preferred’ categories, your premium is likely to be much lower than what a regular smoker pays.
  • If you use regularly (more than three or four times a week), you are not likely to qualify for non-smoker rates.

Medical vs. Recreational

This is perhaps the most important factor that can determine your insurability as a marijuana user.

Insurance companies generally have lenient underwriting guidelines for medical marijuana users compared to recreational users. If you use marijuana to treat a disease or a condition, you might be able to qualify for non-smoker rates, even if you happen to smoke on fairly a regular basis.

At the same time, insurance companies also consider the disease or condition for which you have been prescribed medical marijuana. If it is a minor problem like sleep disorder, anxiety, or eating disorder, it is not likely to affect your insurability to a great extent.

If, on the other hand, you are suffering from a serious disease like multiple sclerosis or cancer, you are likely to be classified as a high risk consumer, irrespective of how often you smoke marijuana.

Generally speaking, a medical marijuana card can help you qualify for non-smoker rates with most insurance companies, as long as you do not have any serious health problem.

Mode of Use

Some insurance companies also take the mode of consumption into account to determine the insurability of marijuana users. They tend to have a less favorable view of smoking compared to other forms of consumption like vaporizers, edibles, CBD oils, sprays, drinks, topical creams, and patches.

Other Risk Factors

Are you a smoker? Do you drink regularly? Are you being treated for any psychiatric condition? Do you have DUI or DWI convictions in your record?

In the presence of such additional risk factors, even an insurance company with lenient underwriting policies might view your marijuana use in a completely different light.

Best Life Insurance Companies for Marijuana Users

Given below is a list of five insurance companies that offer the lowest possible rates for marijuana users.

Apart from their policy with respect to marijuana use, we have also listed the financial ratings of each of these companies below. As you know, financial stability is the one factor that trumps most other factors when it comes to choosing an insurance provider.

There is no point in buying life insurance from a financially unstable company just because the rates are low, as there is no guarantee that the company will be able to honor its claims in the future.

So, we have compiled a list of insurance companies that are not only known for their lenient underwriting guidelines, but are also financially stable and have been in the industry for a long time.

minnesota life

1. Minnesota Life (Securian)

  • Founded In: 1880
  • Financial Ratings
  • A.M. Best: A+
  • Moody’s: Aa3
  • Standard & Poor’s: AA–
  • Fitch: AA

If you only smoke marijuana twice a month, you can qualify for ‘Preferred Non-Tobacco’ rates. You should, however, test negative for THC at the time of application. If your results come back positive, you might be charged a higher rate. If you use marijuana on a daily basis, you are likely to be turned down.

lincoln financial

2. Lincoln Financial

  • Founded In: 1905
  • Financial Ratings
  • A.M. Best: A+
  • Moody’s: A1
  • Standard & Poor’s: AA–
  • Fitch: A+

If you smoke only once a month, you can qualify for ‘Preferred Best Non-Tobacco’ rates, which is the best possible rating you can get. If you smoke up to two times a week, you can qualify for ‘Preferred Non-Tobacco’ rates.

If you smoke three or four times a week, you can qualify for ‘Standard Non-Tobacco’ rates. Daily use is likely to get you rejected in most cases.

mutual of omaha

3. Mutual of Omaha

  • Founded In: 1909
  • Financial Ratings
  • A.M. Best: A+
  • Moody’s: A1
  • Standard & Poor’s: AA–

If you smoke up to three times a month, you can qualify for ‘Standard Non-Tobacco’ rates. If you smoke more frequently, you can qualify for ‘Standard Tobacco’ rates. If you smoke every day, you are not likely to qualify.

prudential life insurance

4. Prudential

  • Founded In: 1875
  • Financial Ratings
  • A.M. Best: A+
  • Moody’s: A1
  • Standard & Poor’s: AA–
  • Fitch: AA–

If you smoke up to three times a week, you can qualify for ‘Preferred Non-Tobacco’ or ‘Standard Non-Tobacco’ ratings. If you are a medical marijuana user who does not use any other narcotic and does not have any serious health problems, you can even quality for ‘Preferred Best Non-Tobacco’ rates.

What separates Prudential from most other companies is that the company does not downgrade your rating even if you happen to test positive for THC at the time of application.

Aside from its lenient view on marijuana use, Prudential is also known for offering competitively priced policies for high risk consumers with less than perfect health and driving record. So, it is one of the best choices available for recreational as well as medical marijuana users.

metlife life insurance

5. MetLife

  • Founded In: 1868
  • Financial Ratings
  • A.M. Best: A+
  • Moody’s: Aa3
  • Standard & Poor’s: AA–
  • Fitch: AA–

If you smoke once a month, you can qualify for ‘Preferred Best Non-Tobacco’ rates. If you smoke less than three times a week, you can qualify for ‘Preferred Non-Tobacco’ rates.

If you smoke up to four times a week, you can qualify for ‘Standard Non-Tobacco’ rates. Similarly, if you consume marijuana only in the form of edibles within a reasonable limit, you might qualify for ‘Preferred Best Non-Tobacco’ rates as well.

MetLife does not generally test for THC. So, the rates are determined based on your admission of usage. The company’s underwriting policies with respect to marijuana use are very liberal when compared to most other companies in the industry today. It is why MetLife remains one of the preferred choices of avid marijuana users.

How to Get the Best Rates as a Marijuana User

Get Multiple Quotes

It goes without saying that you need to get customized quotes from multiple insurance providers before zeroing in on one. This is particularly important for marijuana users, as you are at a much higher risk of being classified as a high risk consumer compared to someone who does not use any kind of narcotics.

Be Upfront about Sharing Information

Do not lie or try to hide any information while applying for a life insurance policy.

If you lie about your drug usage or frequency, and if your test results suggest otherwise, you are not only likely to get rejected, but also likely to get reported to the Medical Information Bureau by the insurance company. It can have an adverse impact on your insurability and affect your chances of getting insured in the future.

Most companies, as you can see from the list given above, offer reasonably priced policies for those who use marijuana up to four times a week. So, be honest about the kind of narcotics you use and the frequency of your usage.

Change Your Mode of Consumption

As mentioned above, some companies tend to evaluate people who smoke marijuana more harshly than people who consume it in the form of edibles, oils, or patches.

If you do not really care about getting high and only use marijuana for medical reasons, you can change your mode of consumption and get a more favorable rating from the company.

Reduce Other Risk Factors

There are several other risk factors, which when seen in conjunction with marijuana use, can affect your insurability to a great extent. For instance, if you have DUI or DWI convictions in your record, the insurance company is likely to view your marijuana usage less favorably, since you have a history of irresponsible behavior.

Similarly, the combination of regular alcohol consumption and marijuana use is likely to affect your chances of qualifying for non-smoker rates. If you have high-risk hobbies or like to travel to remote locations, it can also affect your insurability to a considerable extent.

Moreover, most insurance companies – even those with lenient underwriting policies – require you to test negative for THC at the time of application. Since THC can stay in your system for a period of 30 days, you need to reduce your smoking frequency before applying for life insurance.

The best way to improve your insurability in such cases is to reduce these risk factors to the extent possible. For example, avoid traveling to countries with high crime rates. Give up smoking and drinking. Give up extreme sports and hobbies that can increase your risk of mortality. If you are overweight or obese, try to reduce your weight.

In the absence of other risk factors, many insurance companies do not view marijuana use (within a reasonable limit) as a make-or-break factor while determining your insurability.

So, if you use marijuana – whether for medical reasons or recreationally – you need to keep other risk factors in check to be able to increase your chances of qualifying for the lowest possible rates.

FAQ About Marijuana and Life Insurance

How NoExam.Com Can Help You Find the Right Life Insurance Company

Do life insurance companies test for THC?

Yes. Most life insurance companies test for THC in their physical exams. If you are a marijuana user, it is best to disclose it on your application. This will prevent a dispute in the event your family has to make a life insurance claim.

Can you get life insurance if you smoke marijuana?

Yes. If you smoke marijuana, most companies will classify you as a smoker and you will have to pay higher rates. You should get multiple quotes from different companies to see who has the best rates for marijuana smokers.

If you are a marijuana user, you cannot go wrong with any of the insurance companies listed above. At the same time, the company that offers the lowest rates for marijuana users need not always be the right choice for you.

In some cases, the company’s policies might not meet your budget or financial needs. In which case, you have to widen your search and get quotes from more companies to find out if their products match your needs.

We at NoExam.com can make your job easier by bringing you customized quotes from several insurance providers who are known for their lenient views on marijuana usage.

We can help you compare the offers from different companies, the pros and cons of their policies, and choose the best deal in terms of rates, coverage, flexibility, and a number of other factors.

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Jonathan Holloway
April 8, 2019
Jonathan is a licensed life insurance agent at NoExam.com that writes about insurance, personal finance, lifestyle, and sports. See our pages on life insurance, life insurance rates and life insurance companies for more.
Disclaimer: We make every attempt to make sure our information is up to date, but since things change often it is best to double check the data. This review is an opinion. Clicking on links may result in NoExam.com being compensated.