Rates for pot smokers

by Guest » Wed Aug 22, 2012 01:48 pm
Guest

Can anyone here tell me that how the pot smokers are marked as risk by the life insurance companies? If that is an occasional smoker, will he be charged the non-smoker's rate?

Total Comments: 6

Posted: Thu Aug 23, 2012 08:36 pm Post Subject:

Depends upon the company. The most likely scenario is that he'll get smoker rates just like an occasional smoker will get.

Posted: Thu Aug 23, 2012 11:28 pm Post Subject:

Depends upon the company.


Some companies could also make a moral judgment about the applicant, since the use or possession of marijuana is a crime under federal law, and charge a (higher) substandard rate in recognition of a "moral hazard" -- as it could apply the same reasoning to any other prior criminal offense. If a person has been convicted of a marijuana-related offense, they might even be declined, if criminal offenses are so identified in their underwriting guidelines filed with the state that would lead to a decline.

But as was stated above, most companies would simply rate the person a "tobacco user" and apply those rates. I am not aware of any life insurance company that currently looks the other way, if the use of marijuana is disclosed or discovered, and charges standard "nontobacco" rates.

Posted: Wed Sep 05, 2012 07:27 am Post Subject: Pot Smokers

I just helped an occasional pot smoke get preferred best with a major insurance company. It depends on how often they smoke and other medical conditions. Insurance companies are different in their opinions. I had to research the companies.

Posted: Wed Sep 05, 2012 02:19 pm Post Subject:

Simply amazing.

Posted: Wed Sep 05, 2012 04:37 pm Post Subject: Life Insurance Rates for Pot Smokers

What rate you will qualify for will depend on your state you live in and the insurance company, as well as, your age and health, among other factors.

First, whether or not you qualify for life insurance will depend heavily on the life insurance company and how they view your smoking marijuana, whether legally or illegally. If you live in a jurisdiction where marijuana is legal with a prescription, and you have a prescription, you may qualify for life insurance.

Some carriers may even consider rating a marijuana smoker as a cigarette smoker and offer smokers rates. If you smoke occasionally, you may be able to qualify for non-smoker rates. It depends on the individual insurance company's guidelines for marijuana smokers, how often you smoke, and whether it is legal or illegal, etc. You may want to compare life insurance rates among several highly-rated carriers to find out how they may view your pot smoking, and what kind of rates they may offer.

Posted: Thu Sep 06, 2012 12:01 am Post Subject:

My company doesn't care about that. They only tobacco users.

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