Life Insurance Companies No Longer Treating Marijuana Use as High Risk as Tobacco


Looking to legalization, firms seek young people as long-term clients, broker says

Some of Canada’s biggest insurance companies have updated their policies on marijuana use, and the changes are having a major impact on regular users’ premiums.

With recreational use of the drug set to become legal on Oct. 17, marijuana is moving toward mainstream acceptance, and the slow-moving and stodgy world of life insurance is no exception.

One by one, the big insurance companies have updated their underwriting protocols to move marijuana use out of a high-risk category of activities that includes things like smoking tobacco, and into a pool where premiums aren’t significantly affected.