Coming in 2017: More pot-smoking life insurance policyholders

Marijuana smoking has been on the rise in recent years. In the wake of the November 2016 elections, the number of users — already 25 million-strong — is likely to increase, and perhaps substantially.

Of 9 state ballot initiatives, voters in California, Massachusetts and Nevada approved marijuana use for recreational purposes; their counterparts in Arkansas, Florida and North Dakota okayed medicinal marijuana.

For agents and advisors, a key question will be how many of their pot-smoking prospects will be approved for a life insurance policy; and if so, under what terms. As it turns out, many policy applicants — notably low to moderate users who are healthy or have a prescription for medical marijuana — can receive the most favorable rates.

The infographic below from an independent broker, Simple Life Insure, provides additional information on current marijuana usage nationwide, the health effects of marijuana versus tobacco use and marijuana smoking versus eating, as well as factors life insurers consider in underwriting relating to cannabis. A key one: the concentration of tetrahydrocannabinol or THC, the active ingredient in cannabis, giving it its narcotic and psychoactive effects.