So I guess you’re here because you (or a friend of yours, wink, wink) smoke weed or have in the past.
And you’re wondering whether you should disclose this on your application form.
Am I right?
If the life insurance application form asks about cannabis use then you should disclose cannabis use.
Yes, they all ask something like:
Have you ever taken cannabis, ecstasy, cocaine, heroin or any other non-prescribed drugs?
So you can’t avoid the question by choosing one particular insurer.
Generally former use, or even current light use, doesn’t cost more.
Using every 2 to 3 days is usually where you’d see a loading (price increase) of around +50% compared to the price for a non user.
The insurers will class you as smoker even if you take your cannabis straight up because cannabis contains carcinogens and evidence suggests that heavy cannabis use may be associated with oral cavity, pharynx, esophageal and lung cancers.
Other research shows cannabis is much less dangerous than tobacco but insurers are conservative so take the stricter view.
A blood test can detect cannabis anywhere between 3 and 14 days after use, depending on how frequently the user partakes. Whereas a urine test can show up cannabis use for up to a month!
But you won’t need to do a medical for life insurance. Usually the insurer is satisfied with a drugs questionnaire for cannabis use, at worst they will write to your GP for a medical report.
In general when it comes to life insurance and drugs, the insurers are concerned with:
Whether you still enjoy getting baked or did so just a few times at college, the best way to shop for insurance is through an independent broker who deals with all 6 insurance companies.
Better still, find one with lots of experience in this area…
The issue around therapeutic use will come up more in future, but the underwriters generally look at the underlying condition more than the cannabis being used to treat it.
But because this type of cannabis use is taken to be regular and ongoing, a price increase of +50% is normal, in line with moderate use.
As you can see from the above, the answer is yes – 100% yes.
I have yet to see an insurer increase my client’s premium because of cannabis use.
From speaking to the underwriters, it’s rare for them to ever increase premium due to cannabis use assuming the user has no other health issues.
If you smoked cannabis in the past or are even still an occasional user, don’t worry.
Just make sure you go through a broker who knows which insurer is best to apply to.
Some insurers will increase your premium due to any cannabis use.
Please don’t go through your bank or direct – they rarely have a clue so you’ll end up paying a lot more than you need to.
If you’d like some help, call me on 05793 20836 or complete the short form below.
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