Although state after state has legalized some form of marijuana use, according to the Federal Government, it is still an illegal substance. The difference between federal laws and state laws has created significant concerns for people who use marijuana either medicinally or recreationally. If you use marijuana and are considering purchasing life insurance, it’s very likely that you have questions about medical exams and life insurance, and will life insurance test for THC.
Be Careful of Misrepresentation
If you lie on your insurance application and the company finds out, they may cancel your coverage completely, and any payments you made to the insurance company will be forfeited. If you are concerned about admitting to marijuana use since you live in a state where it’s prohibited, whether medicinally or recreationally, or both, you don’t need to worry. For one thing, insurance companies cannot disclose information due to privacy policies because they require you to be completely honest, but no insurance provider in their right mind would turn their clients in because is violates your HIPPA rights. You certainly wouldn’t attempt to buy life insurance, if you felt you couldn’t be honest with your insurance company.
Understanding the Insurance Medical Exam
The first thing you’ll need to understand is how the insurance medical exam functions. You will have to complete a life insurance application, and in most cases, that’s going to require a comprehensive medical examination. You have to fill in all of your personal information, your health information and even your financial information. Your use of nicotine products, alcohol, and legal or illegal drugs are definitely a part of the application procedure, and you want to be completely honest because the only thing that will happen if you are too honest is you will get denied for insurance coverage or have to pay a higher premium.
In almost every case, if you are applying to an insurance company that has the most affordable insurance rates, you will be required to have a medical exam. The first thing the provider will do is take your medical history, and it’s important that you be as precise as you can. Since family medical history may also be questioned, you might have to call relatives to discover about family history regarding health. The examiner will also take your blood pressure, check your heart rate, and record how tall you are and how much you weigh. The examiner will also ask if you have high-risk hobbies and inquire into your lifestyle. A blood sample is usually taken, and a urine sample will be required. Yes, the urine will be tested for marijuana since it can stay in your system for about 30 days after you use it.
Friendly Insurers for Marijuana Users
There are some “marijuana friendly” life insurers out there and finding them isn’t all that difficult, especially if you go through an independent insurance agent. You can usually look online to find an independent agent who represents all of the major insurers and will know which companies have the lowest rates for marijuana users regardless of whether it’s legal in your state or not. If you explain to your independent agent in advance that you are concerned about marijuana friendly life insurance companies, your agent will understand your needs and direct you to the most appropriate insurance company. And yes, the companies will complete an insurance test for THC.
Here are a few of the companies that other people have been able to get policies with and still be honest about their marijuana use:
- American General
- Lincoln Insurance
- MetLife Insurance Company
- United of Omaha
Getting the Best Rate as a Marijuana User
The best method for getting affordable life insurance rates when you use marijuana is to let your agent know in advance that you use it. Keep in mind; you will have an insurance test for THC anyway; which means you don’t have anything to lose by being frank. If the agent sounds judgmental or you are uncomfortable, then simply hang up and move on to another one. Be honest when you agent asks how frequently you use grass because your frequency of use will help determine which company is the best one to apply to. Also, be sure and let your agent know if you only use edibles as this can affect your rate as well and will also show up in the insurance test for THC. If you are using it for pain management or a different medicinal function, then let them know and if you’re using it for recreational purposes — then you are likely to need to inform them of that also.
Keep in mind that a term life insurance plan will be much less costly compared to other permanent kinds of life insurance such as whole life or universal life. If you find that a 30-year policy is just too expensive for you to manage, compare estimates for other terms of duration before you give up on the process. Any life insurance plan is much better than nothing and opting for a shorter term is quite likely to save you a significant premium on your policy.
Your Bottom Line
The bottom line here is for you to find a fantastic deal on your life insurance plan even in the event that you smoke pot – or use it in some other fashion. Using an experienced and reputable independent agent is going to save you a lot of headaches since he or she will represent multiple insurance companies. Your independent agent costs you absolutely nothing for acting as your advocate during the shopping, underwriting, and issuing process. He or she will also be available in the long term for service needs and annual reviews.