Indopedia All Things Marijuana
As cannabis legalization spreads throughout the country and mainstream support for marijuana grows, more and more cannabis users are willing to admit their use of the once-demonized substance to friends, family, and medical providers. But this honesty can still have drawbacks, as a few cannabis users seeking life insurance have recently discovered. Some blazers shopping for insurance have found that companies are quoting them rates five times higher than those quoted to non-users, says a new report from the New York Post, “with certain issuers making the same risk assumptions for pot smokers as cigarette smokers.”
Legal cannabis is still in its early stages throughout the country, and the insurance sector has not yet established industry-wide best practices for pot-smoking policy holders. Jack Dolan of the American Council of Life Insurance told the New York Post that his organization doesn’t “get into that side of things, that is something for individual company operations” — a posture likely adopted due to the plant’s still federally illegal status. Individuals shopping for life insurance are finding that some companies are willing to overlook cannabis use, while…
