Getting High on Insurance

Getting High on Insurance How to Get Approved for Life Insurance If You Use Marijuana Marijuana is the world's third most popular recreational drug (after alcohol and tobacco) Marijuana use in America has doubled in the past decade with 25 million Americans #3 smoking marijuana and more than 14 million do so on a regular basis TBLURRY The average regular user smokes 2-4 joints worth of marijuana each day 38% of adult Americans have tried marijuana, with 7% smoking it regularly Medical marijuana is leg recreational marijuana is legal in 4 states Over 1.2 million 24 states and Americans are legal medical marijuana patients *as of April 2016 I Recreational And Medical Marijuana Legalized I Medical Marijuana Legalized I Low THC/High CBD Product Legalized Marijuana prohibition costs $4) 58% of Americans support legalizing marijuana taxpayers an estimated $10 billon dollars annually MARIJUANA TOBACCO VS Not All Smoke is Created Equal Marijuana smokers Tobacco contains generally don't chain smoke, which means nicotine. Marijuana doesn't they smoke less Marijuana smoke contains multiple cannabinoids, many of which possess anti-cancer activity and therefore likely exerts "a protective effect against pro-carcinogens that require activation" Low to moderate use of marijuana is less harmful to users' lungs than exposure to tobacco How Do Life Insurance Companies View Marijuana Users? Due to HIPAA laws, you can NOT get into trouble with the law if you admit to using marijuana Occasional marijuana use doesn't count third of life insurance companies that have guidelines about rates for pot users - as long as they don't also use nicotine products "smoking" at almost a How often you use marijuana does count though. Heavy recreational use is generally counted as smoking and could result in a denial with some insurers Life insurance is available for marijuana users with or without a prescription at a preferred rate class with the right companies More than one-third of life insurers classify marijuana users as non-smokers Marijuana users are no longer being grouped in with the same risk category as cigarette smokers, or worse being declined Marijuana users can get approved with a non-smoker's rate even if you light up occasionally NON-SMOKER 16% of Americans have lied about a marijuana habit to get lower life insurance rates SMOKING vs EATING Does It Matter for Life Insurance Rates? Not really. The Good The Bad With cannabis-infused edibles Pot brownies, weed tea, and there's no smoking. Common sense should suggest precluding insurers from giving out smoker rates if you're only ingesting it other marijuana edibles have caused concerns with overdosing because they often have higher concentrations of THC For now, insurance companies are not giving any additional leniency if marijuana is eaten rather than smoked But this may change Impacts of Marijuana Use and Life Insurance Several carriers now offer non-smoker rates for those who use marijuana, recreationally or medicinally Your use of marijuana depends on several factors including: April How often you smoke, vape or consume marijuana Whether you use marijuana The last time you used marijuana for recreational or medicinal use A person who uses recreationally will likely only be scored on their frequency and date of last use The underlying medical condition for WHY a person uses a medical marijuana prescription will be factored into the underwriting. This means a person that uses medicinally will be subject to additional underwriting questions How to Get Approved for Life Insurance If You Smoke Marijuana Some life insurance Average life insurance companies treat marijuana smokers as "smokers" and charge rates for smokers are easily three times what they are for $S$$ tobacco rates nonsmokers Follow these tips to get coverage at the best price if you're a marijuana user: Find a company that considers you a nonsmoker NON-SMOKER Do NOT lie. Life insurance medical exams typically include blood and urine tests that will reveal pot use. If a lab test reveals the drug in your system, the insurer likely will deny your application for coverage That means you need to disclose your usage, how often you use and your reasons for using marijuana Lying about using marijuana is also grounds for your life insurance policy to be considered VOID in the event you die Shop around. Find a good independent agent who can steer you to companies that are more marijuana-friendly Send a cover letter explaining the marijuana use with your application explaining why and how often the applicant uses the drug. Not all life insurance applications ask about marijuana Marijuana users might qualify for the best life insurance rates if they have a prescription for medical marijuana. Rates will still depend on the health of the applicant, including the condition the marijuana is prescribed to treat Regular recreational pot users usually don't qualify for the very best nonsmoker rates, but they can qualify for standard nonsmoking rates at some companies Frequency of use matters. Most insurers will consider you a smoker if you use marijuana more than once a week SMOKER You need to apply with the right company from the start or you could be setting yourself up for failure MARIJUANA-FRIENDLY LIFE INSURANCE CARRIERS Best Class Max Use AIG Banner Life O FIDELITYLIFE Eslided le Fidelity A Standard Smoker * Any American General Banner Columbus Life A Preferred Best * 2x annually A Standard Smoker * Recreational, negative test a Standard Smoker * Recreational, negative test Genworth ING AD OLincoln MetLife Financial Group Genworth ING Reliastar Lincoln MetLife A Standard Smoker * 8x monthly A Preferred Smoker * Daily AStandard Non-Smoker * 8x monthly A Preferred Plus * 4x monthly MINNESOTA LIFE Protective. Lle Irsurarce Comuany Mutual of Omaha Minnesota Life North American Protective A Standard Non-Smoker * 4x monthly, negative test A Preferred Non-Smoker * Recreational, negative test A Standard Smoker * 8x monthly A Standard Smoker 米 Any Prudential TRANSAMERICA AccordiaLife TRANSFORM TOMCRROW A GLCBAL ATLANTIC COMPANY Prudential Transamerica Accordia Life A Standard Plus * 3x weekly, positive test A Standard Smoker * Any A Preferred * 3x week THE SECRET TO GETTING THE LOWEST RATE IS PLACING YOU IN A POLICY WITH THE COMPANY WHO VIEWS YOU IN THE MOST FAVORABLE LIGHT For more information on how to get the best rates for life insurance contact Ty at: Simple Life Insure call (800) 730-9660 or SIMPLELIFEINSURE.COM SOURCES: http://www.globaldrugsurvey.com/facts-figures/the-global- drug-survey-2014-findings/ http://time.com/4082683/us-marijuana-use-increase/ https://www.nerdwallet.com/blog/insurance/life/life-insura nce-marijuana/ https://lifeinsurance.rocks/life-insurance-for-marijuana-sm okers/ http://norml.org/aboutmarijuana http://www.rootfin.com/how-life-insurance-companies-vie w-marijuna-smokers/ http://visual.ly/marijuana-vs-tobacco http://www.gallup.com/poll/163835/tried-marijuana-little- changed-80s.aspx https://blog.pennmutual.com/legal-marijuana-and-life-insu rance/ http://medicalmarijuana.procon.org/view.resource.php?res https://www.weedhorn.com/life-insurance-companies-ope n-to-marijuana-use-1340719011.html ourcelD=005889 http://www.nbcnews.com/storyline/legal-pot/no-buzz-med ical-pot-laws-prove-problematic-patients-lawmakers-n556 https://www.nerdwallet.com/blog/insurance/americans-ok -lying-marijuana-use-life-insurance/ 196 http://www.pewresearch.org/fact-tank/2015/04/14/6-facts- about-marijuana/ http://simplelifeinsure.com/life-insurance-marijuana/#inge sting-inhaling http://norml.org/library/surveys-polls http://www.bestliferates.org/high-risk/smokers/marijuana/ https://patients4medicalmarijuana.wordpress.com/marijua na-info/marijuana-vs-cigarettes/ http://termlife2go.com/marijuana-use-and-life-insurance-a pproval/ http://www.thedailychronic.net/2016/52027/marijuana-vs-t obacco-not-all-smoke-is-created-equal/ http://www.ncsl.org/research/health/state-medical-mariju ana-laws.aspx https://www.ucsf.edu/news/2012/01/11282/marijuana-sho wn-be-less-damaging-lungs-tobacco https://mic.com/articles/134054/here-s-a-map-of-every-sta te-and-their-marijuana-laws#.W8WPMQ4V6