When it comes to applying for life insurance, individuals are required to disclose their medical history and lifestyle habits that could potentially impact their coverage. One such factor that will significantly affect life insurance premiums is drug usage. Whether it involves recreational drugs, prescription medications, or even nicotine, the presence of substance use in an individual’s life can have far-reaching consequences on their insurance rates.
Below are 10 recreational drugs and how three prominent insurance companies respond to applicants’ usage.
| Drug Type |
Life Insurance |
Is Use Permitted? |
Abstinence Length to Qualify for Life Insurance |
| Marijuana | Canada Protection Plan | Less than 6x per week: non-smoker rates.
More than 6x per week: smoker rates. |
Not Applicable |
| Canada Life | Drug questionnaire required. Possible based on attending physician’s statement and motor vehicle record. Clients who use marijuana are considered non-smokers. | Light use: standard. Moderate use: minimum 150%.
Heavy use: 200% to decline. Additional rating may apply for underlying conditions. |
|
| Assumption Life | Over age 18, current usage can be considered. Consideration includes the quantity and frequency of usage. | Consider standard if usage is less than 7 times per week depending on the quantity used. If it is not mixed with nicotine, it will be non-smoker. | |
|
Alcohol
|
Canada Protection Plan | Application does not ask about alcohol consumption. |
|
| Canada Life | Alcohol usage questionnaire required. Possible based on attending physician’s statement, motor vehicle report and blood profile. | Healthy recovery: 150-250%.
Over age 40 and more than five years since last alcoholic drink: standard (best case). Currently consuming alcohol: decline. Other medical concerns considered for rating.; |
|
| Assumption Life | Up to 4 drinks per day is standard | If there is any past history of alcohol abuse with treatment and current drinking, then declined. | |
|
Heroin
|
Canada Protection Plan | No current use permitted. | Over 12 months and under 5 years for Deferred Elite plan.
|
| Canada Life | Information not available | Information not available | |
| Assumption Life | No current use permitted. | Three years, and a rating would apply. | |
|
LSD
|
Canada Protection Plan | No current use permitted. | Over 12 months and under 5 years for Deferred Elite plan. |
| Canada Life | Information not available | Information not available | |
| Assumption Life | Decline | Can qualify after two years of abstinence. Rating would apply. | |
|
Benzodiazepines
|
Canada Protection Plan | No current use permitted. | Over 12 months and under 5 years for Deferred Elite plan. |
| Canada Life | Information not available | Information not available | |
| Assumption Life | No current use permitted. | Can qualify after 2 years of abstinence. Rating would apply. | |
|
Amphetamines |
Canada Protection Plan | No current use permitted. | Over 12 months and under 5 years for Deferred Elite plan. |
| Canada Life | Information not available | Information not available | |
| Assumption Life | No current use permitted. | Can qualify after 3 years of abstinence. Rating would apply. | |
|
Ecstasy |
Canada Protection Plan | No current use permitted. | Over 12 months and under 5 years for Deferred Elite plan. |
| Canada Life | Information not available | Information not available | |
| Assumption Life | No current use permitted | Can qualify after 2 years of abstinence. Rating would apply. | |
|
Cocaine |
Canada Protection Plan | No current use permitted. | Over 12 months and under 5 years for Deferred Elite plan. |
| Canada Life | Information not available | Information not available | |
| Assumption Life | No current use permitted. | Can qualify after 3 years of abstinence. Rating would apply. | |
|
Solvents
|
Canada Protection Plan | No current use permitted. | Over 12 months and under 5 years for Deferred Elite plan. |
| Canada Life | Information not available | Information not available | |
| Assumption Life | No current use permitted. | Can qualify after 7 years of abstinence. Rating would apply. | |
|
Psychedelic mushrooms |
Canada Protection Plan | No current use permitted. | Over 12 months and under 5 years for Deferred Elite plan. |
| Canada Life | Information not available | Information not available | |
| Assumption Life | No current use permitted. | Can qualify after 2 years of abstinence. Rating would apply. |
In navigating the complex landscape of life insurance and understanding the policy requirements, it is highly recommended to work with an experienced insurance broker. A knowledgeable broker will provide invaluable guidance, helping you navigate the intricacies of drug usage and its impact on your premiums. They can assess your unique situation, connect you with the right insurance providers, and ensure that you secure the best coverage at the most competitive rates. By partnering with a broker, you can gain a comprehensive understanding of the policy requirements and make informed decisions about your insurance needs.
Take advantage of our expertise and let our experienced brokers guide you through the process, ensuring that you and your loved ones are protected. Complete a quoting form on the right to contact us.
