Non-smoker Rates for Casual Marijuana Users

Jason Price Life insurance rates



Recently, several life insurance carriers have announced that they will now consider marijuana users at non-smoker rates.  This is great news for clients who enjoy the occasional joint .  A smoker’s rating typically doubles the cost of life insurance, and for the person who has a joint a few times a year, the added cost of insurance seems unfair.  As an advisor, I have to agree with that.  Charging a client who has the occasional joint the same rate as a client who smokes two packs of cigarettes a day is unfair.  However, the insurance companies have to draw the line somewhere.  It appears the line is finally being redrawn. This is not the first time the industry has considered casual marijuana users as non-smokers.  Ten years ago, certain providers offered non-smoker rates to users of marijuana.  However, the line shifted, and for the last decade, Almost all companies considered a person who had even one joint a year as a smoker.  The rule even applied to the use of vaporizers, edibles and oils.

This new stance by the insurance companies is not as simple as it may appear.  For example, someone who uses medical marijuana for a medical condition may not receive a smoker’s rating, but depending on the severity of the underlying medical condition, they may receive a health rating or a decline.

Insurance companies will still likely consider the amount of marijuana being used.  Someone that has a joint a week, may be considered a non-smoker under the new rules.  However, someone who smokes two or three joints a day, is likely still looking at higher rates.

All insurance companies are different.  One company may draw the line at 1 joint a month, whereas a different carrier may allow up to 1 or 2 joints per week.  For this reason, it is best to talk to a Life Insurance Broker.  Brokers have access to several carriers and can recommend a carrier that fits within your specific situation.  Valley Life Insurance Solutions Inc.  specializes in life insurance and we have access to over 18 different carriers.  Consider giving us a call to discuss your options.