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Life Insurance and Medical Marijuana Card

Feb 20

Life Insurance and Medical Marijuana Card

Cannabis was a crime under federal and state laws for many years. The legalization of medical marijuana has been extended to 36 states and 4 territories. There's a lot of confusion regarding how medical marijuana could affect your insurance and other aspects.


We will look at the way insurance companies look at medical cannabis cards online currently, including their impact on the eligibility criteria and rates. We will concentrate on the most important consumer insurance products, including health and life insurance.

Medical Marijuana Applications

Medical marijuana refers to any treatment made from cannabis Sativa plants and contains significant amounts of tetrahydrocannabinol. THC is a widely used drug known for its psychoactive effects however, it is also employed to treat specific ailments.


Although the FDA has approved many drugs made from THC however, the cannabis plant isn't yet approved as a treatment. For example, Dronabinol, or lab-created THC is an FDA-approved drug that reduces nausea and vomiting caused by chemotherapy. Others synthetic chemicals based upon THC can help patients who have HIV/AIDS shed weight and appetite.


While medical marijuana could be beneficial to some other conditions but the FDA has yet to approve any other use. The National Center for Complementary and Integrative Health, (NCCIH), maintains that more research is necessary before officially sanctioning different treatments. It also points out that patients who use marijuana must be aware due to the increased chance of accidents with cars.


Medical marijuana laws

Federal law makes medical marijuana illegal. Some states allow medical marijuana, while others allow it for recreational use. It's not easy to locate the perfect marijuana that is right for you.


While laws in many states have been changed, there is still a lot of internal disagreement regarding medical marijuana. It's difficult to predict what to expect because of this.


Federally-regulated financial institutions are less likely to approve marijuana since it is illegal at the federal level.


Is Medical Marijuana Covered by Health Insurance?

Since medical marijuana is typically illegal at the federal level, health insurance does not cover it. If the FDA approves medical marijuana, however, it may alter the policy.


What does medical marijuana have to do with your health insurance?

Your health insurance rate is only set by your insurance provider using five elements. These are age the location, the use of tobacco. A medical marijuana card is not one of these aspects. In addition, you should not add conditions that you treat using marijuana.


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

Although you can purchase life insurance using marijuana, your premiums may be more expensive. Many variables can affect the cost of life insurance which include the effects of medical marijuana.


Health issues

Life insurance companies are more concerned about the fact that you use medical marijuana, rather than the substance itself. In particular, it could be difficult, or impossible, to qualify for insurance coverage if you suffer from a fatal disease, like Cancer. The insurer will examine your medical history before deciding whether you should make an application for life insurance. This will assess the severity and the extent of your needs. This includes whether or not you use marijuana for smoking. If you suffer from severe medical issues, the life insurance coverage will be more expensive.

Smoker classification

Insurance companies are more likely to accept you if you use marijuana. While these rates are higher than for non-smokers they might not agree with your use of marijuana. However, it is not the case that all insurance companies will consider medical marijuana applicants smokers. This is even if one does not smoke marijuana but you inhale it.



Your marijuana use frequency could impact your insurance rates. For example, you may be eligible for the standard rate when you don't use marijuana regularly. But, if you smoke marijuana regularly, it will likely make you a smoker with more expensive rates.


The final line

The concept of medical marijuana insurance is still new. The FDA hasn't yet approved several methods for medical marijuana, and it is still prohibited at the federal level. While insurance companies might not cover medical marijuana treatment however this shouldn't affect the coverage you can get from insurance companies. There is a chance that you'll have to pay higher premiums for life insurance. To get the most value, talk to an agent regarding your medical background.

For more information please visit:
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