The attitude of the entire nation towards weed is changing. Some of the states have already legalized marijuana, whereas others would do the same this year. Now investments are also open for cannabis stocks. After all this, there is one thing that marijuana users need to do – finding the best insurance company.
The legality of marijuana is still a bit hazy and due to this the guidelines are also pretty hazy for the carriers to rate the marijuana users. The carriers of insurance set the premium of the policy basing it on the health of the applicant. If you have a pretty bad health then you would pay more monthly premium. They do take the usage of drugs and smoking status into their account and this is why cannabis is going to complicate things.
For instance, the smokers of tobacco would pay more for these policies as compared to the non-smokers, but when it comes to marijuana users, they would often get the rate given to non-smokers except for the times they won’t.
The use of medical marijuana could result in higher carrier rates as compared to when the drug is used for recreational purposes as this could indicate that the applicant has a medical condition.
It is seen that most of the life insurance companies are generally accommodating towards the people who use weed. You just need to be honest in the application and when you are setting your expectations. If you lie on your life insurance application, it is worse than when you disclose your drug usage. The carrier might end up canceling your policy. Most of the life insurance carriers just want to know what they are dealing with so that they can decide what premium rate your policy should have. If the carrier knows your hobbies and habits, the premium rate is set accordingly and everyone is happy.
When marijuana users need to apply for life insurance, all the carriers aren’t really the best fit for them. Therefore, you should know which companies are the best. When it comes to marijuana users applying for life insurance, not all carriers are created equal, and it’s good to know the best life insurance companies for marijuana users. Some of the most marijuana friendly insurance companies are Prudential and MetLife and their policies are best suited for marijuana users. If any kind of help is needed, you can always consult a licensed expert of life insurance.
