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January 19, 2021 5:13 PM Eric Goldschein
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Though it’s increasingly legal, marijuana can still raise red flags for life insurance companies. While some insurers don’t mind covering you if you use pot, others will charge you higher rates or deny your application outright.
About 22.2 million Americans use marijuana every month, according to the Centers for Disease Control and Prevention. It’s now legal for medical use in 36 states and for recreational use in 15, as well as for both in Washington, D.C.
If you’re one of the millions of Americans who use marijuana and you’re looking for a life insurance policy, you can probably find coverage. You may need to shop around, however, as companies don’t view the risks that weed poses to long-term health in the same way.