Legal pot and it's ramifications

[TampaHound]

There is a conference coming to Tampa dealing with the medical benefits of Marijuana, as well as grow it, sell it (legally one assumes), etc. I have to admit a small interest in investing in it. Or even attending the conference as a networking activity.

I've sold policies to pot smokers before, but that's not my concern. I'm just wondering how the insurance business will react to this change. Will auto rates go up for example?

Will it be covered under drug plans.

More a topic for discussion than anything else.

 

[Brian Anderson]

I don't see health insurance covering medical marijuana anytime soon...

Why Your Health Insurance Won

As far as it impacted auto insurance rates, what has been a sticking point here in Colorado is that there is no legally mandated standard as to what constitutes driving while high (how much THC in the bloodstream makes you too high to drive safely?) - like the .08% BAC for drunk driving.

High Impact: Will Legalized Marijuana Cause a Spike in Auto Insurance Rates?

 

[goillini52]

I don't see health insurance covering medical marijuana anytime soon...

Why Your Health Insurance Won

As far as it impacted auto insurance rates, what has been a sticking point here in Colorado is that there is no legally mandated standard as to what constitutes driving while high (how much THC in the bloodstream makes you too high to drive safely?) - like the .08% BAC for drunk driving.

High Impact: Will Legalized Marijuana Cause a Spike in Auto Insurance Rates?

I asked Equitable if they'd cover medical marijuana under the Anti-Nausea Medication benefit on their Cancer policy and I got a very quick...NO.

 

[aclaro]

The right life insurance carrier doesn't test for it. You can get the best rates if you smoke less than every day.

 

[goillini52]

The right life insurance carrier doesn't test for it. You can get the best rates if you smoke less than every day.

That same carrier...Equitable, doesn't care if you smoke pot, as far as their rates go on their FE. A pot smoker gets the non smoker rates.

 

[Tahoe Ray]

That same carrier...Equitable, doesn't care if you smoke pot, as far as their rates go on their FE. A pot smoker gets the non smoker rates.

Aig, Met, Lincoln, Minn life, and Pru are all "cool"

AIG is tough on their restrictons. ML and Met are better.

Lincoln claims less than 1/time per month is eligible for preferred plus but I've never seen it approved. (But in my few cases with this there were other issues)

Pru goes standard plus non smoker on 3/week use with positive thc.

Source: most personal production done in northern California.

 

[goillini52]

Aig, Met, Lincoln, Minn life, and Pru are all "cool"

AIG is tough on their restrictons. ML and Met are better.

Lincoln claims less than 1/time per month is eligible for preferred plus but I've never seen it approved. (But in my few cases with this there were other issues)

Pru goes standard plus non smoker on 3/week use with positive thc.

Source: most personal production done in northern California.

More and more companies are coming around. I think we'll see even more when pot's legalized.

 

[Tahoe Ray]

More and more companies are coming around. I think we'll see even more when pot's legalized.

There is no doubt to that...

What's interesting is that I can probably get a pot smoker a better rate than an electronic cig user.

Experience is everything I guess...

 

[goillini52]

There is no doubt to that...

What's interesting is that I can probably get a pot smoker a better rate than an electronic cig user.

Experience is everything I guess...

Yes, some companies consider e-cigs as still smoking. Oxford does, they sent out a bulletin on it. I guess they have nicotine in them.

 

[Tahoe Ray]

Yes, some companies consider e-cigs as still smoking. Oxford does, they sent out a bulletin on it. I guess they have nicotine in them.

Almost all of the fully underwritten companies do. I don't know much about them, only that you're better of dipping or smoking cigars than smoking e-cigs if you want a non-tobacco rate.