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Life Insurance for Marijuana Users

Jason Metz

A total of 34 states and the District of Columbia have approved the use of medical marijuana and, among those states, 10 have approved recreational marijuana, including D.C. Even if marijuana is legal in your state, using it could affect your life insurance quotes. Here’s what you need to know.

How does marijuana affect life insurance quotes?

If you’re buying life insurance, marijuana can affect rates whether you’re using it with a medical marijuana prescription or recreationally.

Medical marijuana: People with a prescription for medical marijuana have an underlying medical condition. That condition, along with the marijuana use and any other health conditions, will generally affect life insurance rates.

The way you take the medical marijuana can also determine rates. For example, smoking it can lead to smoking rates, while ingesting it could mean non-smoking rates.

Recreational marijuana: Some life insurance companies will give smoking rates to any user of recreational marijuana. Others will determine rates depending on the frequency of use. For example:

  • Rarely use: If marijuana use is rare, such as twice a year, you may still be able to get the best rates if your health qualifies you.
  • Occasional use: If you use marijuana occasionally, you may be able to qualify for non-smoking rates. Occasional use is defined differently among insurers.
  • Regular use: Regular use could mean smoking rates, depending on the company.
  • Daily use: Daily use could mean a denial of the application, or a decision on a case-by-case basis.

How much more do marijuana users pay for life insurance?

Using marijuana more than two times a month will increase life insurance quotes by an average of 162%, based on EverQuote research. We compared rates for 30-year-old nonsmokers vs. marijuana users. We averaged the increases for 20-year term life insurance policies with $500,000, $1 million and $2 million in coverage.

Because life insurance pricing for marijuana users varies so much among companies, it’s smart to work with an independent agent who can shop the market for you and identify which companies are more marijuana-friendly.

Do life insurance companies test for marijuana?

A life insurance medical exam typically includes testing for marijuana. However, not all types of life insurance require a medical exam. There are options for life insurance with no medical exam, but the rates are usually high because the life insurance company has no medical information for pricing the policy. If you use marijuana but are generally in good health, it may be cheaper to buy life insurance with a medical exam and admit to the marijuana use.

How do I find the best life insurance rates for marijuana use?

Many life insurance companies offer life insurance for marijuana users. Here are tips to find good life insurance rates.

  • Work with an independent life insurance agent – An independent agent can find the companies likely to give you the best rates.
  • Don’t lie on a life insurance application – Many life insurance companies require a medical exam, which can detect marijuana use. In addition, marijuana use could be revealed in medical records that life insurers typically request. It’s always best to be truthful on a life insurance application, even if it will mean a higher price.