Long-Term Care Insurance and Marijuana Use
Long-term care insurance and marijuana use may not seem like they go together. Shopping for a long-term care insurance policy can be difficult and confusing especially if you use marijuana. Getting long-term care insurance with marijuana use is possible if you work with a long-term care insurance specialist that will help you shop for a policy.
Can I qualify for long-term care insurance if I use marijuana?
If you use marijuana you can probably qualify for long-term care coverage. Every insurance company has different criteria to determine who they can insure. It’s important to work with an experienced, independent agent who is familiar with the four main types of long-term care coverage. An independent, long-term care specialist can recommend the perfect policy for you based upon your health history.
Which type of long-term care policy should I buy if I use marijuana?
There are four main types of long-term care coverage: traditional long-term care insurance, long-term care partnership programs, life insurance with long-term care riders, and annuities with long-term care riders. The best type of policy for people with marijuana use is usually a traditional long-term care policy or a long-term care partnership program. However, everyone’s situation is unique. Click here to try our proprietary “Policy Finder” tool (no phone required). It will give you an instant ranking of the four types of policies based upon your answers to a few short questions.
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Will I pay more for long-term care insurance if I use marijuana?
Every long-term care insurance company is different. Some long-term care insurers may charge applicants 10% more for marijuana use. Other insurers may charge applicants 50% more for marijuana use. That’s why it’s important to work with an long-term care insurance professional who can help you shop around and compare several different policies.
Can I qualify for long-term care insurance if I’ve already applied for and been denied coverage due to marijuana use?
Long-term care insurance specialists have less than 20% of their applicants declined. Insurance “generalists” have about 50% of their long-term care insurance applications declined. With over 25 years of experience, we can pinpoint exactly which company (and which type of policy) you’ll be able to qualify for. We have about an 80% success rate in helping our clients get approved even if they were previously declined.
If you have marijuana use, a long-term care insurance specialist will ask you the following questions to determine if you can qualify for a long-term care insurance policy and calculate your premium:
Is your marijuana use medicinal or recreational?
How many times per week do you use marijuana?
Have you had any DUI or DWI in the past 3 years?
Do you have any history of drug abuse or memory loss?
Is your CBC (Complete Blood Count) normal?
When was the last time you used marijuana?
Request a 15-minute phone call from an LTCi specialist. No obligation.