DISTRICT OF COLUMBIA: Time was when most life insurers had no underwriting policy regarding an applicant’s use of marijuana. But that’s no longer the case.
According to a survey by Munich American Reassurance, 29 percent of life insurers with an underwriting policy in place classify marijuana users as non-smokers. The survey is based on on-site interviews of nearly 150 underwriters. They were attending the April annual meeting of the Association of Home Office Underwriters in Washington, D.C.
Of the life carriers represented in the survey, just one in five have no official underwriting policy in place for marijuana users, according to the Atlanta business unit of Munich Re.
However, 42 percent of those companies’ representatives said they expect their employers will have a policy in place within 12 to 36 months.