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Life Insurance With a Medical Marijuana Card

Feb 20

Life Insurance With a Medical Marijuana Card

For a long time, cannabis was illegal but legal under federal and state laws. Nowadays, medical marijuana is legal in 36 states and 4 territories. But, there's plenty of confusion over how medical marijuana could affect your insurance and other aspects.


We'll be looking at the way insurance companies view medical marijuana cards online and will also look into whether or not it is covered, and the impact it has on rates and eligibility. We will focus on the most significant consumer products such as life and medical insurance.

Medical Marijuana Usage

Medical marijuana refers to any treatment made from cannabis Sativa plants and contains significant amounts of tetrahydrocannabinol. THC is a popularly used drug known for its psychoactive effects but it can also be used to treat certain ailments.


While the FDA has approved a variety of medicines based on THC but the cannabis plant isn't yet approved as a treatment. For instance, Dronabinol or lab-created THC is an FDA-approved drug that can help reduce nausea and vomiting that is caused by chemotherapy. Other synthetic chemicals that are based on THC can help patients with HIV/AIDS lose weight and increase appetite.


Although medical marijuana could be beneficial for certain health conditions, FDA has yet to accept any other uses. The National Center for Complementary and Integrative Health (NCCIH) maintains that more research is required before officially approving different treatments. Patients who use marijuana should be aware of the higher risk of being involved in an accident.


Laws that regulate medical marijuana

Federal law makes medical marijuana illegal. Some states allow medical marijuana, whereas others permit it for recreational usage. There is a lot of confusion among marijuana users.


While laws have changed in many states, there's plenty of internal conflict regarding medical marijuana. It's not easy to determine what's to come from this.

Financial institutions that are regulated by the federal government may be less tolerant of marijuana since it is a crime at the federal level.


Is Medical Marijuana Covered by Health Insurance?

The health insurance policy doesn't cover medical marijuana because it is not legal at the federal level. If the FDA accepts medical marijuana, it could be changed.


What does medical marijuana mean for the health insurance you have?

Your health insurance premium will be determined by your insurers if they use five factors. They consider location, age, and smoking cigarettes. Medical marijuana cards are not one of these elements. Additionally, you shouldn't apply for a medical marijuana card to treat conditions you treat with marijuana.


What is the impact of medical marijuana on life insurance rates?

While you can buy life insurance with marijuana, your premiums may be more expensive. Many factors could affect your life insurance rates and including the effects of medical marijuana.


Conditions of Health

Life insurance companies are more concerned about the fact that you use medical marijuana rather than the substance itself. In particular, it could be challenging, or impossible, to get insurance coverage if you suffer from a fatal disease, like Cancer. The insurance company will look into your medical history before you apply for life insurance. This is done to determine the severity and extent of your requirements. This includes whether or not you smoke marijuana. Life insurance coverage can be more expensive if you have more serious medical issues.


Smoker classification

If you smoke marijuana, your chances of getting accepted by insurance companies are higher. Although these rates are much higher than for non-smokers they may not approve of your use of marijuana. However, some insurance companies will consider medical marijuana applicants smokers. This is even if you don't smoke marijuana, but do inhale it.



The rate you pay for insurance could be affected by your use of marijuana frequency. Standard rates might be accessible to you even if you don't use marijuana regularly. Regularly smoking marijuana will make you eligible for more expensive rates.


The bottom line

Medical marijuana insurance is only a few years old. The FDA has not approved many treatment options for medical marijuana and it is still not legal on a federal scale. Insurance companies may not cover medical marijuana but this shouldn't limit the coverage you can get from insurance companies. You might need to pay more for life insurance. To get the most value to speak to an agent regarding your medical history.

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(800) 478-1984)

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