Pot, the President, and Life Insurance

President Obama’s recent remarks about marijuana have “stirred the pot” about this controversial topic. To what extent current laws should be changed has once again entered the national debate.

In the life insurance business, we must deal with the situation as it is today. So, this is a good opportunity to share some pointers about how to get life insurance when you smoke marijuana.

1. It it is important to know that you can get non-smoker rates even if you are a pot smoker, under certain conditions. You can even qualify for preferred underwriting.

2. You must go through full disclosure and be comfortable detailing the frequency, amount, and duration of your habit. In addition, you must disclose the prior use of hard drugs, if applicable.

3. If your doctor’s notes indicate that you are suffering from anxiety or depression, and that you have been self-medicating for this with marijuana, that may create an obstacle.

4. Strict ethical and legal privacy protection constraints prevent the broker, the general agent, and the carrier from reporting your drug use to the authorities.

5. Medical marijuana is typically treated the same as recreational marijuana. Some exceptions may exist.

These are simply guidelines. Prequalification would give you a firm understanding of what pricing would be available to you.

What other questions on this topic would you like to see addressed?


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