Will Using Marijuana Impact Your Changes at Securing Life Insurance?

The answer is yes and depends on several factors.  The factors do vary between life insurance companies and I would say that is a main reason to have access to an independent life insurance producer.  That access can secure you the best life insurance product at the best price.

Generally, the key factors are:

  1. Your age.
  2. If your use is recreational or medicinal.
  3. How frequently you are using it.
  4. How you are choosing to ingest the marijuana. Smoke, liquid or edible.
  5. Any past issues with alcohol or other drugs.

Also, this pertains to personal life insurance needs, as business needs coverage is not current available in the marketplace.  While business needs coverage is not available, we are able to secure personal life insurance on marijuana growers and distributors from a limited number of carriers.

Recreational use is assessed by the life insurance companies based on the client’s age, frequency of use and how it is ingested.  One additional note, some carriers charge smoker rates for any marijuana use.  (The examples below look at just the frequency of use and charge nonsmoker rates as long as the client does not use any form of tobacco.)

Example #1

Daily use =Table B Non-tobacco.

Once a week = Standard to Standard Plus Non-Tobacco.

Once a month = Best class is available.

3-4 x a year or less = Best class is available.


Example #2

Daily use = declined.

Up to 3 times per week = STD Plus NS rates

4-6 uses per week = Table B Non-Smoker rates.

1 x month = STD Plus NS rates


Medical Use is determined by the medical impairment being treated.

Examples of common uses:
Insomnia = Daily use =STD to T2
Chronic pain = STD at best.
Epilepsy = STD at best, rate would be based on type and date of last seizure.
Postponed = STD



As state laws and the public’s attitude about marijuana use change, we expect the insurance companies will continue to evaluate the best approach to access the risk of using marijuana.  Currently nine states allow recreational use.  With all the money in marijuana, big business is buying into marijuana growing and distribution companies and Canada has allowed marijuana companies to go public.  I expect there will be a big push to change our Federal laws or at least remove marijuana as a Schedule 1 drug, which would help businesses grow.