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- Life insurance can be more expensive for marijuana smokers, depending on the company and how often the person smokes
- In some cases, it's best for marijuana smokers to seek no medical exam life insurance policies
- Some life insurance companies will charge marijuana smokers the same rates as cigarette smokers, which can be up to triple the cost of normal life insurance
You won't find many life insurance articles that discuss how recreational drugs can affect life insurance. Many people don't know about life insurance companies that will insure marijuana smokers.
This article will break down how you can get life insurance if you smoke or use marijuana, how it can impact your rates, and the best life insurance companies for marijuana smokers.
Read on to learn more about the life insurance companies that will insure marijuana smokers or enter your ZIP above to get free quotes from the leading life insurance companies in your area.
Where can I find life insurance companies that will insure marijuana smokers?
Shopping for life insurance is already complicated enough. To make matters more difficult, you'll need to be proactive in finding a suitable insurer if you smoke.
Most life insurance companies will charge smokers two or three times as much for a traditional term life insurance policy. This can quickly become a costly expense.
Not every marijuana user also smokes tobacco. You might be able to find a life insurance company that doesn't charge as much for marijuana usage.
The issue with marijuana life insurance policies is that there is no clear guideline for life insurance rates for those that use marijuana. Life insurance rates will vary from company to company.
What are the best life insurance companies that will insure marijuana smokers?
There are a few options for life insurance if you're a marijuana smoker. First and foremost, it's important to compare rates from multiple life insurance companies because of how much they vary.
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Life insurance rates also vary based on many additional factors like age, gender, occupation, and health status. Traditional life insurance policies typically include a medical exam to assess a policyholder's health.
Life insurance companies are working around risk. Older adults are naturally closer to the end of their lifespan and consequently pay more for life insurance. It might not seem fair, but the insurance company has to protect itself.
What do life insurance blood tests test for? Most life insurance tests will typically look for the following:
- High blood pressure
- High cholesterol
- High blood glucose
- Nicotine
- Recreational drugs
Your life insurance medical exam could vary a bit depending on your company, but blood tests almost always check the basics listed above. Again, the life insurance company doesn't want to invest in someone who will die without making many payments.
You might find products, like Cincinnati life insurance, that will determine your rate based on the amount you smoke.
| Age | Using 2x/month | Using 3-7x/month | Using 8+x/month |
|---|---|---|---|
| <18 | Decline | Decline | Decline |
| 18-29 | Smoker Rates | Smoker Rates | Smoker Rates |
| 30+ | Non-smoker Rates | Smoker Rates | Smoker Rates |
You'll see above that age and usage both play a factor for Cincinnati life insurance. In this case, there's no difference between smoking or using edibles for life insurance rates.
If you're thinking you might record a failed life insurance drug test, you might want to consider shopping for a no medical exam life insurance policy. Our life insurance guide explains the finer details on no exam policies.
These policies allow prospective policyholders to bypass the medical exam, but typically at an added cost. There are other special circumstances when you might be able to bypass a blood test.
For example, for military members, the USAA life insurance drug test might be dismissed. This is a rare circumstance, but it's worth noting.
Virtually any life insurance company that offers term life insurance will cover someone who smokes nicotine or marijuana; however, it comes at a hefty price.
Sometimes, it could be better to stick with no exam life insurance policies. They still cost more than a normal term life insurance policy, but it might be more affordable than paying smokers' rates.
The most well-known no exam life insurance companies include:
- AIG
- Minnesota Life
- North American
- Prudential
- Sagicor
- State Farm
- Transamerica
Overall, your rates will likely vary from company to company, so be sure to shop around and get personalized quotes.
What are the cheapest life insurance companies that will insure marijuana smokers?
There's no simple way to identify which life insurance company will be the most affordable for you, since there are many variables. Some companies will charge normal rates, others charge smoker rates, and some might deny you coverage entirely.
| Age | Sagicor (Non-smoker) | Sagicor (Smoker) | Prudential (Non-smoker) | Prudential (Smoker) | MassMutual (Non-smoker) | MassMutual (Smoker) |
|---|---|---|---|---|---|---|
| 25 | $13.54 | $51.65 | $19.03 | $43.97 | $15.00 | $42.20 |
| 35 | $14.29 | $72.46 | $20.78 | $51.19 | $15.88 | $55.48 |
| 45 | $28.34 | $170.85 | $29.97 | $122.94 | $32.40 | $126.15 |
| 55 | $81.29 | $417.65 | $71.53 | $271.69 | $73.73 | $281.45 |
| 65 | $275.57 | N/A | $242.60 | N/A | $243.18 | $588.13 |
Above, we've compared sample rates from some of the best life insurance companies for smokers and non-smokers with a $250,000 policy.
You'll see that there is a substantial variance in the rates for smokers and non-smokers, and the rates from different companies. For example, Sagicor is notably cheaper for young non-smokers but is always the most expensive for smokers in this example.
Since there isn't a clear way to identify exactly how each life insurance company will classify a marijuana user, it's hard to determine which company will be the cheapest.
As a whole, no exam life insurance rates tend to fall closer to smokers' rates than nonsmokers' rates. If you're looking for affordable life insurance as a marijuana user, you may want to consider burial insurance.
These rates can sometimes be more affordable, although the death benefit is much smaller. This payout is typically only designed to cover funeral expenses.
| Age | Mutual of Omaha (Non-smoker) | Foresters (Non-smoker) | Transamerica (Non-smoker) | Mutual of Omaha (Smoker) | Foresters (Smoker) | Transamerica (Smoker) |
|---|---|---|---|---|---|---|
| 60 | $102.08 | $108.24 | $104.17 | $142.73 | $160.10 | $143.86 |
| 65 | $134.59 | $134.64 | $135.96 | $192.66 | $207.51 | $194.35 |
| 70 | $179.45 | $177.54 | $181.28 | $262.08 | $269.06 | $264.33 |
| 75 | $244.02 | $252.00 | $244.72 | $353.86 | $397.86 | $357.13 |
| 80 | $326.83 | $362.12 | $345.21 | $478.86 | $539.42 | $518.90 |
Overall, burial insurance rates tend to be more affordable once age is considered. Smokers will pay less per month for burial insurance than non-smokers will for term life insurance if the price is your main concern.
If you're looking for a more comprehensive life insurance policy, you'll need to do some additional digging.
How do I choose the best life insurance company that insures marijuana smokers?
If life insurance rates are the most important to you, it's best to compare quotes from multiple companies. This is the only fool-proof way to get the best rate.
Otherwise, you'll want to consider each life insurance company's ratings before you commit to a policy.
| Rating Agency | Prudential | State Farm | MassMutual | Foresters | Sagicor | Transamerica |
|---|---|---|---|---|---|---|
| A.M. Best | A+ | A | A++ | A | A- | A |
| Fitch | AA- | WD | AA+ | N/A | BB | AA- |
| S&P | AA- | AA | AA+ | A- | BB+ | A+ |
| BBB | NR | NR | B- | A+ | A+ | B |
Using the table above combined with our smoker vs. non-smoker life insurance rates, you'll see that Sagicor might offer the best rates for young non-smokers, but it also has the lowest ratings for financial strength.
It does appear that Sagicor is fairly reliable based on an "A-" rating from A.M. Best; however, a large policy might not be in your best interest with that company.
Before you commit to any life insurance company, it's important to review A.M. Best ratings, Better Business Bureau ratings, and even reviews from Consumer Reports.
At the end of the day, a life insurance policy won't do you any good if your beneficiaries have problems accessing the death benefit.
Life Insurance Companies That Will Insurance Marijuana Smokers: Painting a Clearer Picture
Marijuana usage will most likely impact your life insurance rates. How much will depend on how often you use marijuana, your age, and how your insurer views marijuana usage.
We hope we've helped you understand how to navigate life insurance companies that will insure marijuana smokers. Before you go, enter your ZIP code below to get free quotes from the top life insurance companies near you.
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