Getting Life Insurance While Using Marijuana

Underwriting Resources


Client’s who are using marijuana, or at least admit to it, are on the rise in the United States. As this post is written, there are 33 states that have legalized medical marijuana and 10 states that have fully legalized recreational use. This has prompted many users to fully declare their recreational or medicinal use not fearing any penalties of their state’s law. The big question for consumers and agents alike, are how this use is viewed in the eyes for a life insurance carrier.

The answer to this question is still being answered as more data about the behaviors of mild, moderate or heavy users of marijuana. Insurers are underwriting with the fact that while many states have legalized its use, the federal government still classifies it as a schedule 1 drug, the same category as heroin and LSD. So it leaves carriers to create their own guidelines on how users will be underwritten for life insurance coverage.

Some life insurance carriers have taken a little more liberal approach to the use of the drug, and other carriers have really stood their ground and continue to keep the old conservative underwriting policies in place. The goal of any agent is to guide clients to the most affordable product that meets a consumer’s needs. Whether that be just death benefit protection, living benefits or to help accumulate cash for retirement or other financial goals.

Pegasus is here to help it’s agents and clients get the best life insurance protection while taking into consideration some lifestyle choices the consumer may make. So how do our carrier stack up when it comes to marijuana use and life insurance? I think we do great and have identified some of the nation’s top life insurance carriers that have created the guidelines needed for the successful underwriting of your next life insurance application.

If your client is a very occasional, recreational, marijuana user, we may be able to find them coverage at Preferred Non-Tobacco rates. If they use a little more, maybe once or twice a week, we may be able to get them Standard Plus to Standard Non-Tobacco rates, and if they use a little more frequently, we may be able to get them either a non-tobacco rated case or even a tobacco rating.

The Pegasus Marijuana Life Insurance Kit

We have done the searching and long phone calls with many life insurance carriers and put down some of their requirements in this neat little kit for our licensed agents. It will act as your guide to help narrow down your carrier choices to then perform a quick risk assessment and see where your client would qualify. We also have included a quick questionnaire for marijuana users to help gather all the detailed information that can be used for these risk assessments.

To get your copy of the Pegasus Marijuana kit, just enter your information below and we will email you a copy! That’s it. If you have a client or are interested in learning more about getting marijuana users valuable Life Insurance protection, call us today to start the conversation.

Request Your Pegasus Marijuana Underwriting Kit

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Pegasus Insurance
18402 US HWY 281 N., Suite 265
San Antonio, TX 78259
Phone: 505-298-2111
Fax: 505-298-2555