Global Courant
Insurance companies that sell life insurance policies conduct medical examinations to check the overall health of the applicant. These tests include urine and blood tests to detect the presence of illegal drugs such as THC or other banned chemicals. The insurance company’s underwriting team would then create the life insurance policy based on the results of the medical tests.
Based on the results, they would first assess whether the person was eligible for insurance. If it is discovered that he or she is suffering from some form of terminal illness, the insurance company can most likely deny the person a life insurance policy. If the applicant is deemed healthy, the premium rates are set at a lower level because the health risks associated with the individual are less. In the same vein, smokers, even those with healthy bodies, always pay significantly higher premiums than other healthy non-smokers.
Among marijuana users, the fears are compounded, as many insurance companies consider the health risks to be very high. Still, all individuals should seriously consider applying for insurance because of the many obvious benefits that come with it. To some extent, many THC users refrain from applying for life insurance for fear of prosecution.
Are you afraid of being prosecuted if you test positive for THC?
Many people use illegal drugs such as marijuana; cocaine, opiates, lsd etc. often live under the fear of being prosecuted if they submit to a life insurance policy. This has deterred many of them from applying for life insurance, due to the possibility of being caught with the presence of THC in their system while taking a drug test. This is far from the truth as the insurance company is required to maintain customer confidentiality through the Health Insurance Portability and Accountability (HIPPA) Act. This law ensures that your privacy and trust are not violated in any way. All individuals, regardless of drug use, should seriously consider applying for life insurance. There are several benefits to qualifying for a policy.
What does the presence of THC mean for your life insurance prospects?
With regard to applicants who are users of marijuana, there are a few options they can consider when purchasing insurance. It used to be difficult for marijuana users to even qualify for life insurance. Nowadays there are quite a few insurance companies that offer life insurance, even if you have tested positive for THC. Although it is inevitable that these applicants should be eligible for smoking rates when applying for life insurance.
Your premium rates for your policy also depend on the degree and extent of narcotics use. If you are a regular user, it can be difficult to actually find a comprehensive package that is both affordable and offers a decent amount of coverage. You may pay 50 to 400 percent more than what healthy non-smokers pay for their policy. This may not be a viable investment for all people. Even those applicants, who are prescribed marijuana for medical use, would face paying higher rates if they qualify for the policy.
For recreational users, it is generally advisable to quit the habit before applying for insurance. THC usually stays in your system for 4 to 8 weeks, depending on your body metabolism and other related factors. It is wise to wait at least 3 full months before applying for a life insurance policy. This way, if your tests for the presence of THC come back negative, your chances of qualifying for comprehensive life insurance are greatly increased.
Do life insurance companies test for THC?
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