2024 Burial Insurance with Medical Marijuana Use
last updated on March 26, 2024If you use marijuana by-products and you have a prescription for medical marijuana, you can qualify for burial insurance with medical marijuana use.
Even with other health issues, you can still qualify for burial insurance regardless of medical marijuana use.
This article will explain how insurance companies view the use of medical marijuana and the key to getting affordable burial insurance for medical marijuana users.
FOR EASIER NAVIGATION:
- What Is My Best Insurance Option If I Have a History of Medical Marijuana Use?
- What Types of Burial Insurance Should I Avoid?
- What Type of Burial Insurance Is Best?
- If I Use Medical Marijuana, Do I Need a Medical Exam to Qualify for Burial Insurance?
- Burial Insurance Underwriting If You Use Medical Marijuana
- How Much Insurance Do I Need If I Use Medical Marijuana?
- How Should I Pay My Premiums?
- Medical Marijuana Use and Burial Insurance Riders
- Information We Need if You Use Medical Marijuana
- Benefits of Burial & Funeral Insurance
- Other Common Uses for Final Expense Life Insurance with Medical Marijuana Use
- How Can Funeral Funds Help Me?
- Additional Questions & Answers On Burial Insurance With Medical Marijuana Use
What Is My Best Insurance Option If I Have A History Of Medical Marijuana Use?
MEDICAL MARIJUANA FOR MINOR HEALTH CONDITIONS
If you are using marijuana to treat a minor health condition and are otherwise healthy, you can qualify for a level death benefit.
A level death benefit is the best rate class for burial insurance. This is great because you will pay the lowest possible premium on your life insurance, and your coverage starts on the first day. You will have no waiting period on your plan. Your beneficiaries will receive your full death benefit when you pass away for any reason.
It is important to note that whether or not you will qualify for a level death benefit plan if you’re a marijuana user entirely depends on the individual company. Every life insurance company is different, and they have different underwriting requirements. It is best to seek expert advice from an independent life insurance agency about your specific case.
Best Option: Leved death benefit plan with first-day coverage
MEDICAL MARIJUANA FOR SEVERE MEDICAL CONDITIONS
If you use medical marijuana to treat a severe medical condition like a recent cancer diagnosis or terminal illness, you will be declined for a first-day coverage plan, but there is another option. You can apply and receive approval for a guaranteed issue burial insurance even if you use marijuana to treat a severe medical condition.
The guaranteed acceptance policy has no underwriting or health questions and doesn’t ask about marijuana use or your medical condition. Guaranteed issue burial insurance costs more than the level death benefit, but you can be approved for coverage as quickly as 15 minutes.
You can easily qualify for this plan if you are a U.S. citizen between 50 and 80 years old.
The guaranteed issue policy has a two-year waiting period for a natural cause of death. The policy will pay for accidental heath if you pass away during the waiting period. If you pass away during the first two years as a consequence of any medical issues, your beneficiaries will receive all your premiums plus 10% interest.
After the first two years, it will pay full death benefits for any cause of death.
What Types Of Burial Insurance Should I Avoid?
| PLANS TO AVOID | WHY? |
|---|---|
| Term life | Premiums increase after 5 years. Coverage ends after 80. |
| Pre-paid funeral plans | Expensive |
| Universal life | Tied with stocks |
| No health questions policies | With 2-year waiting period |
| Plans offering "teaser rates" | $9.95 per unit plans or $1 buys $100,000 coverage |
| Over priced plans | Insurance from TV and junk mail |
| Plans that accept mail-in payments | Risky |
| Plans that accept Direct Express | High lapse rate |
| Plans that accept Credit Cards | High lapse rate |
What Type Of Burial Insurance Is Best?
| FUNERAL FUNDS PLAN BENEFITS | INCLUDED |
|---|---|
| 1st Day Coverage | YES |
| Rates NEVER Increase | YES |
| Coverage NEVER Decreases | YES |
| Easy to get approved | YES |
| No Medical Exam | YES |
| Same Day Approval | YES |
| Death Claims Pay Fast | YES |
| Builds cash value | YES |
| Coverage Up To Age 121 | YES |
If I Use Medical Marijuana, Do I Need A Medical Exam To Qualify For Burial Insurance?
You are NOT required to take a medical exam to qualify for burial insurance for medical marijuana users.
When you apply for burial insurance, you only have to answer basic questions about your health. The application process is simple; you don’t need to provide medical records or blood and urine samples.
You’ll get the official approval from the insurance company often within minutes!
Underwriting Burial Insurance With Medical Marijuana
Burial insurance companies have two ways of underwriting:
FIRST – They may ask you a series of health questions. Your answers to their questions will determine your eligibility.
SECOND – They will electronically review your prescription history to verify your health.
HEALTH QUESTIONS:
Medical marijuana comes in different forms such as marijuana plant material, tincture, capsules, vapes, balms, lotion, and CBD oil.
Some insurance companies will ask about marijuana use this way:
- Other than prescribed by a physician, have you ever used marijuana, stimulants, narcotics, sedatives, hallucinogens, or any prescription drugs?
If you answer yes, please provide us with the name, frequency, amount, length of use, and date last used.
The amount of medical marijuana you consume and the frequency of use may be considered by insurers when determining how much you’ll pay for coverage and if you will have a waiting period.
HOW DOES MEDICAL MARIJUANA AFFECT LIFE INSURANCE?
Medical prescriptions for marijuana are allowed in many states if you have a medical marijuana card. Because it is legal, there are no legal issues regarding the law enforcement agency and qualifying for life insurance.
Medical marijuana use is common for some medical and psychological conditions. If you have a marijuana prescription, the insurance company may want further information about your medical condition.
There are different forms of medical marijuana prescription, including the following:
- Marijuana plant material
- Tinctures
- Capsules
- Edibles
- Lozenges
- Oral sprays
- Vaporizing
- Dermal patches
If you are using medical marijuana in any form and if you have a medical marijuana card, the insurance company will look at two things:
- The medical condition being treated by the marijuana
- Your other health conditions
It is not marijuana use that plays a major role in underwriting but the reason for your marijuana prescription. The type of medical condition being treated by marijuana is more important because it can impact your life expectancy.
The major factor in getting approval and getting the best rates is to apply to a marijuana-friendly life insurance company. The best way to do this is to work with an independent life insurance agency that represents multiple companies.
DO YOU NEED TO DISCLOSE YOUR MARIJUANA USE?
You are not obliged to disclose your marijuana use if the insurance company does not ask about it. Some companies don’t ask about marijuana use; generally, they will only ask about your health and any medical conditions you have had in the past.
If the insurance company asks about marijuana use, answer it honestly – do not lie. Tell them about your marijuana use, including the amount you use and the frequency of usage. Lying about marijuana use on an insurance application is a fraud, and you risk losing your benefits if you are dishonest on your application.
RIGHTS OF A MARIJUANA USER
A valid concern of most marijuana users is privacy. They worry that admission to using marijuana can lead to exposure to the possibility of arrest.
You will not get in trouble with the law for admitting marijuana use on your life insurance application.
If you use medical marijuana, your insurance agent cannot report you to your employer, family or law enforcement agency. You are fully protected when you apply for life insurance.
As a marijuana user, your rights are protected by the HIPPA law (Health Insurance Portability and Accountability Act 1996), which guarantees the privacy of individually identifiable health information.
HIPPA protects all your medical information. Nobody can access your medical records without prior written consent from you. Your insurance agent, your doctor, or anyone directly related to your health information cannot disclose your records without your permission.
How Much Insurance Do I Need If I Use Medical Marijuana?
The amount of burial insurance you should buy varies depending on your personal and financial circumstances. However, burial insurance should cover the cost of your funeral, burial, and final expenses.
The first step to figuring out how much burial insurance you need is to know your end-of-life expenses. Your funeral cost is often the biggest single expense you need to pay. Other end-of-life expenses to consider are your outstanding medical bills, living expenses, credit card bills, and other debts.
Here’s an example of a funeral cost breakdown from the National Funeral Directors Association.
| AVERAGE FUNERAL COST WITH VIEWING AND BURIAL | |
|---|---|
| Non-declinable basic services | $2,300 |
| Removal/ transfer of remains to funeral home | $350 |
| Embalming & preparation of the body | $1,050 |
| Use of facilities for viewing & funeral ceremony | $965 |
| Hearse | $325 |
| Service car/van | $150 |
| Basic memorial printed package | $183 |
| Metal casket | $2,500 |
| Vault | $1,572 |
| Median Cost of a Funeral With Viewing and Burial | $9,420 |
| AVERAGE FUNERAL COST WITH VIEWING AND CREMATION | |
|---|---|
| Non-declinable basic services fee | $2,300 |
| Removal/ transfer of remains to funeral home | $350 |
| Embalming & preparation of the body | $1,050 |
| Use of facilities for viewing & funeral ceremony | $965 |
| Service car/van | $150 |
| Basic memorial printed package | $183 |
| Cremation fee (if firm uses a third-party crematory) | $368 |
| Cremation Casket | $1,310 |
| Urn | $295 |
| Median Cost of a Funeral with Viewing and Cremation | $6,970 |
| Rental Casket | $995 |
| Alternate Cremation Container | $150 |
How Should I Pay My Premiums?
The best way to pay your premium is through a savings or checking account. We recommend you set a bank draft from your savings or checking account. That way, the bank will automatically pay your premium each month, and you don’t need to worry about your policy lapsing due to non-payment.
Medical Marijuana Use And Burial Insurance Riders
Insurance policy riders add benefits to your policy. Adding insurance riders will enhance your policy to fit your needs. Some riders are built into your policy, while others can be added at an additional cost. Most riders are affordable, and it involves little to no underwriting.
Here’s a list of common burial insurance riders:
| FUNERAL FUNDS ADD-ONS | AVAILABILITY |
|---|---|
| Terminal Illness Add-On Benefit | Included with most plans |
| Nursing Home Care Add-On Benefit | Included with most plans |
Information We Need If You Use Medical Marijuana
When applying for burial insurance with medical marijuana, it is critical to disclose any current or past medical or health problems. This information will help us understand your current health and will enable us to provide you with an accurate quote.
Here are some questions we may ask to help you find the best insurance company and rates:
- Do you use cannabis for recreation, or is it medically prescribed?
- How long have you been using medical marijuana?
- Do you have a marijuana card?
- How many times do you use medical marijuana?
- What is your method of use (smoked, ingested, or inhaled)
- What medical condition is being treated by medical marijuana?
- When were you diagnosed with a medical condition?
- Do you use other drugs aside from cannabis?
- Have you been hospitalized because of illegal drugs?
Answer each question honestly. We need to know more information about your marijuana use so we can place you with the right insurance company that will look at you favorably and offers you the best-priced policy.
Benefits Of Burial & Funeral Insurance
Here are some of the benefits of purchasing a burial or funeral policy:
- No medical exam or doctor’s visit is required – easy to get approved.
- Ease of issue – easy to qualify and get insurance coverage.
- No Money Down to get approved – have your policy start whenever you want.
- Level premium – your premium will never increase.
- Fixed death benefit – your death benefit will never decrease for any reason.
- Permanent protection – your policy can not be canceled by the life insurance company as long as you continue to pay your premiums.
- Tax-free – the death benefit is directly paid to your beneficiary tax-free upon your death
- Cash value builds up – burial insurance is a whole life policy that builds cash value over time.
Other Common Uses For Final Expense Life Insurance With Medical Marijuana Use
All of these examples are appropriate uses for Final Expense Life Insurance:
- Burial insurance plan with medical marijuana use
- Cremation insurance plan with medical marijuana use
- Funeral home insurance plan with medical marijuana use
- Final Expense insurance plan with medical marijuana use
- Prepaid funeral plan insurance with medical marijuana use
- Mortgage payment protection plan with medical marijuana use
- Mortgage payoff life insurance plan with medical marijuana use
- Deceased spouse’s income replacement plan with medical marijuana use
- Legacy insurance gift plan to family or loved ones with medical marijuana use
- Medical or doctor bill life insurance plan with medical marijuana use
We can help you with any of the plans above. Your pricing will depend on your age, health, and coverage amount for each program option.
How Can Funeral Funds Help Me?
Finding a policy for medical marijuana use needn’t be frustrating; working with an independent agency like Funeral Funds will make the process easier and quicker.
We will work with you every step to find the plan that fits your financial requirements and budget. You don’t have to waste your precious time searching for multiple insurance companies because we will do the dirty work for you.
We work with many A+ rated insurance carriers that specialize in covering high-risk clients like you. We will search all those companies and match you up with the best burial insurance company that gives the best rate.
We will assist you in securing the coverage you need at a rate you can afford. So, if you are looking for medical marijuana funeral insurance, medical marijuana burial insurance, or medical marijuana life insurance, we can help.
Fill out our quote form on this page or call us at (888) 862-9456, and we can give you an accurate quote.
Additional Questions & Answers On Burial Insurance With Medical Marijuana Use
Can I qualify for life insurance if I use medical marijuana?
Yes, you can still qualify for life insurance even using medical marijuana. However, your rates may be higher than those who don’t use marijuana, as you may often be considered for smoker rates due to marijuana use. Be sure to disclose your marijuana use to your life insurance agent to get you the best possible rate.
Do I need to take a medical exam to qualify for life insurance?
No, you don’t need to take a medical exam to qualify for life insurance.
Do I qualify for a first-day coverage plan if I use medical marijuana?
Yes, you may qualify for a first-day coverage plan if you use medical marijuana to treat a minor health condition. The severity of your health condition will dictate what plan you will qualify for.
Do I need to tell the life insurance company about my medical marijuana use?
Yes, you will need to tell the life insurance company about your medical marijuana use when you apply for a policy. Failure to do so could result in your policy being denied or canceled.
What happens if I don’t disclose my medical marijuana use to the life insurance company?
Your policy could be denied or canceled if you don’t disclose your medical marijuana use to the life insurance company. Additionally, if you claim your policy and the life insurance company finds out that you didn’t disclose your marijuana use, they could deny your claim.
Is there an age limit for burial insurance with medical marijuana use?
The typical maximum age limit for burial insurance with medical marijuana use is 85. Once approved, your coverage will last until you are 121 years old.
Is my privacy protected if I disclose to the insurance company that I use marijuana?
Yes, your privacy is protected when you disclose your medical marijuana use to an insurance company. The insurance company is required by law to keep your information confidential.
What are the benefits of having life insurance if you use medical marijuana?
Some of the benefits of having life insurance if you use medical marijuana include peace of mind, financial security for your loved ones, and the ability to choose your beneficiaries.
Can I qualify for burial insurance if I use medical marijuana?
Yes, you can still qualify for burial insurance even if you use medical marijuana. Your insurance eligibility will depend on the severity of the medical condition marijuana is treating.
Is there a waiting period for burial insurance if I use medical marijuana?
No, burial insurance often has no waiting period if you use medical marijuana. However, if you have a significant medical condition being treated with medical marijuana, you may qualify for first-day benefits or guaranteed issue life insurance with a two-year waiting period.
What are the benefits of burial insurance for medical marijuana users?
Some of the benefits of burial insurance for medical marijuana users include peace of mind, financial security for your loved ones, and the ability to choose your beneficiaries.
What is the best life insurance for medical marijuana users?
There is no one “best” life insurance for medical marijuana users. Your best life insurance will depend on your individual needs and circumstances. Be sure to work with one of our qualified life insurance agents to find the best policy for you.
Can I qualify for final expense insurance if I use medical marijuana?
Yes, you can still qualify for final expense insurance if you use medical marijuana. Your insurance eligibility will depend on the severity of the medical condition marijuana is treating.
Does my medical marijuana use increase my rates?
Yes, your medical marijuana use may increase your life insurance rates. However, the exact rate increase will depend on the life insurance company you choose and the severity of your medical condition.
Does my medical marijuana use affect life insurance?
Yes, your medical marijuana use may affect your life insurance coverage. However, the exact impact will depend on the life insurance company you choose and the severity of your medical condition.
What are the things that may affect my eligibility if I use marijuana?
A few things may affect your eligibility for life insurance if you use marijuana. These include the severity of your medical condition, the life insurance company you choose, and the type of policy you apply for.
What type of life insurance can I get if I use medical marijuana?
You may be able to qualify for a few different types of life insurance if you use medical marijuana. However, the exact type of policy you’ll qualify for will depend on the life insurance company you choose and the severity of your medical condition.
What is the waiting period if I use medical marijuana?
In most cases, you will qualify for first-day coverage if you use medical marijuana, but this will depend on the life insurance company you choose and the severity of your medical condition.
Can medical marijuana use affect my life insurance rates?
Yes, your medical marijuana use may affect your life insurance rates. However, the exact rate increase will depend on the life insurance company you choose and the severity of your underlying medical condition.
What happens if I don’t disclose my marijuana use to the life insurance company?
If you don’t disclose your marijuana use to the life insurance company, you may be denied coverage or have your policy canceled. Never lie on an insurance application.
Can I qualify for funeral insurance if I use medical marijuana?
Yes, you can still qualify for funeral insurance if you use medical marijuana. Your insurance eligibility will depend on the severity of the medical condition marijuana is treating.
Do I need a marijuana card to apply for insurance?
No, you do not need a marijuana card to apply for life insurance. However, you must disclose your marijuana use to the life insurance company.
Will I be charged a smoker rate if use medical marijuana?
It depends on the life insurance company. Some companies may consider you a smoker if you use tobacco products, even if you don’t smoke cigarettes.
Will the life insurance company tell my employer I use marijuana?
No. It’s the law that your life insurance company cannot tell your employer that you use marijuana. However, you will need to disclose your marijuana use to the life insurance company.
Can I qualify for cremation insurance if I use medical marijuana?
Yes, you can still qualify for cremation insurance if you use medical marijuana.
Can I qualify for no medical life insurance if I use medical marijuana?
Yes, you can still qualify for no medical life insurance if you use medical marijuana. Your insurance eligibility will depend on the severity of the medical condition marijuana is treating.
Do I need to be a legal marijuana user to apply for insurance?
No, you do not need to be a legal marijuana user to apply for life insurance. However, you must disclose your marijuana use to the life insurance company.
What are the premiums for cremation insurance with medical marijuana use?
The premiums for cremation insurance with medical marijuana use will depend on your age, gender, coverage amount, health, and the life insurance company you choose.
What are my chances of getting approved for insurance if I use medical marijuana?
Your chances of getting approved for insurance if you use medical marijuana are often very good. However, the exact chance will depend on the life insurance company you choose and the severity of your medical condition.
What is the process for applying for life insurance if I use medical marijuana?
The process for applying for life insurance if you use medical marijuana is the same as any other life insurance policy. If you need help with this, just let us know.
What are the best life insurance companies for medical marijuana users?
The best life insurance companies for medical marijuana users will depend on your needs. Some companies may be more lenient than others when approving coverage for medical marijuana users.
Can I cancel my life insurance policy?
Yes, you can cancel your life insurance policy at any time in the future.
What are the tips for getting cremation insurance with medical marijuana use?
Some tips for getting cremation insurance with medical marijuana use include:
- Disclose your marijuana use to the life insurance company.
- Choose a life insurance company that is more lenient when approving coverage for medical marijuana users.
- Work with a qualified life insurance agent from Funeral Funds to compare quotes from different life insurance companies.
- Get a policy that fits your needs.
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