Emerging Trends in Life Underwriting
There have been a number of changes in the insurance landscape in the recent past which present challenges for the consumer, advisor and underwriter. Last year, some carriers changed their position on marijuana usage by offering their clients non-smoker rates. There have also been recent legislative changes regarding genetic testing that impact life insurers.
Life Underwriting In 2017 and Beyond
Insurers’ goals are cost containment, faster turnaround and “customer friendliness” with a mandate for continued robust mortality gains. This article looks at impactful interim developments and critical questions yet to be resolved. It includes data from a 2017 survey of 110 life insurers regarding tobacco, alcohol and drug use underwriting.
Recreational Marijuana – Where’s the Risk?
In 2015 we published a white paper with an underwriting perspective on marijuana use. The following paper takes a look at the developing landscape after two years.
Life Insurance Challenges Posed by Marijuana and E-cigarettes
An increasingly discussed area in life insurance circles is the manner in which marijuana and e-cigarettes are addressed by life insurance carriers.
Medical Underwriting: UPDATED Marijuana - Not Just Blowing Smoke (RGA)
Legal “pot” use is no longer a pipe dream. Although marijuana remains the most commonly consumed illegal drug1 in the world, many nations and at least 28 U.S. states and the District of Columbia have decriminalized its medicinal use, and efforts to liberalize recreational consumption continue to gain momentum.
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.
The Increased Insurability of Regular Marijuana Users
Until recently, nearly all life insurers’ underwriting guidelines pegged cannabis user insurability akin to that of tobacco cigarette smokers. Not any longer.
4 Misconceptions about Marijuana and Life Insurance
With just about half of America's states legalizing marijuana use for medicinal purposes, insurance carriers have changed their underwriting approach for these types of cases.
Life Insurance: You Can Lose Out Just Being Associated with Pot
A few weeks ago, Derek Peterson got a letter from Mutual of Omaha, turning him down for life insurance.
Customers’ Pot Smoking May Not Be A Deal Breaker For Life Insurers
If you smoke marijuana and you’re shopping for life insurance, chances are you can find a company that won’t penalize you for your habit, but you may have to weed out several insurers to find the best policy.