Some people may often think about the possibility of getting a life insurance policy if they admit to being a marijuana smoker. Few may know that they may be able to get a life insurance policy if they smoke marijuana, even without a prescription. Some life insurance companies will not approve applications for life insurance on a person who smokes marijuana without a prescription. And there are some companies who may approve these same applications with high premiums that resemble those of a cigarette smoker. Visit the page on life insurance for smokers for more information. Those individuals who smoke prescribed marijuana will generally be offered non-tobacco rates. Although their application may not be denied for the marijuana use, there will typically be a red flag regarding the primary reason that marijuana is being prescribed.
For those that are only occasional marijuana smokers but find themselves paying the same high premiums as cigarette smokers; they should generally stop smoking marijuana if they want to be offered lower rates. After twelve months of being smoke free, this person may be able to apply with a new carrier for a standard non-tobacco policy and will generally end up with a much better rate. To find more about the benefits of quitting smoking and life insurance, visit our article “Finding the Best Non Tobacco Life Insurance Rates after Quitting.”
Though many exams for life insurance policies don’t include blood tests that detect THC, it is typically advisable that applicants make reference to their marijuana usage on their application and during their interview. This information is usually vital (if asked for disclosure) since it is considered fraud to lie on the applicant paperwork. Not to mention, if the applicant dies within twenty four months of the policy start date, the carrier may probe before they agree to pay the death benefit. They are able to check medical records and if they show THC the carrier is not obliged to pay out on the claim, since the applicant purposely falsified their paperwork. If you’re smoking marijuana without a prescription, and reveal this on the paperwork, HIPPA laws are in place to protect this information, so your agent or insurance carrier may not be allowed to discuss it with anyone. Because of these laws, there can be no criminal penalties as a result of admitting to being a marijuana smoker on your life insurance paperwork.
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