Marijuana Guidelines

Transcription

1 America s Foremost Insurance Brokerage Network AIG No more than twice per year: Best class if otherwise qualified. Up to twice a month: Standard Non-Tobacco rates More often: Tobacco rates, and maybe rated Table B or higher Daily use: Decline Will have to be verified in the APS and will be rated for the underlying condition. If prescribed for chronic pain = Table D or higher. They will not offer coverage to individuals (or groups, or groups of individuals) involved in marijuana businesses even if legal to conduct in the state in which the coverage is written or proposed. Last Update: 8/2018 / Last Carrier Review: 8/2018 For agent use only. Not for distribution to the public.

2 American National (if smoked) - Consider on a Smoker basis and the rating will be determined based on the frequency/amount of use. < age 18: Decline Occasional (2 x s a month or less) +0 NNU (if + cotinine, NU rates) For non-medical cases, require urine specimen for cotinine screening and full drug panel For fully underwritten business, consider for Standard Plus if no unfavorable factors present & not smoking* Drug Use Questionnaire Required Intermittent (3-8 x s a month) - Drug Questionnaire required Standard NNU (if +cotinine, NU rates) For non-medical cases, require urine specimen for cotinine screening and full drug panel Standard rate best rate possible if no unfavorable factors present. Moderate (9-16 x s a month) +50 NNU (if +cotinine, NU Rates) For non-medical cases, require urine specimen for cotinine screening and full drug panel T2 best possible rate if no unfavorable factors present and not smoking* If method of ingestion is smoking, add +25 to rating Drug use questionnaire required Heavy (>16 x s a month) +100 (if +cotinine, NU rates) T4 is best possible rate if no unfavorable factors present and not smoking* For non-medical cases, require urine specimen for cotinine screening and full drug panel. If method of ingestion is smoking, add +25 to rating. Daily use = Decline. Drug use questionnaire required No ongoing depression, anxiety or other psychiatric conditions. No suspicion or history of alcohol or substance abuse, under regular medical supervision with a licensed physician (M.D. or D.O.) Rate for underlying cause Add +50 if smoking marijuana Urine specimen required for cotinine and full drug screen Drug Use Questionnaire Required Personal coverage yes, they will consider coverage for small amounts (in states where it is legal) - justifying further details (financials, MJ use etc.), subject to underwriting. They may ask for further financial details, given many of these businesses exist on a cash basis, therefore income may not be reportable, and cause issues with financially justifying the amount applied for (using income replacement factor). Business coverage, any type of - no coverage offered, given it is still not legal on a federal basis. Last Update: 8/2018 / Last Carrier Review: 8/2018 For agent use only. Not for distribution to the public.

3 Brighthouse Life Insurance The client can smoke up to 4 times a week and still receive - Best class Under age 18 - Declined Ages smoking >4 times per week -Table D rating Ages 25+ smoking > 4 per week - Table B rating Does not consider them and will decline this risk. Global Atlantic Ages 25 and under Decline Ages 26 and up - Individual consideration given final offer will depend on frequency of use, quantity and overall picture. Ages 25 and under Decline Ages 26 and up - Will rate the underlying condition. Will consider Non-Tobacco rates if no use of nicotine. It does need to be for personal coverage only and not business coverage. A cover letter including the following is required: An overview of the business to include function, year established, if it has its own bank account (i.e., if itis a cash only business), and any other pertinent information. The proposed insured s role within the company, including any ownership. Purpose of insurance with clear indication that this is for personal coverage only and confirmation that the business has not been and will not be involved in the coverage at all (i.e., cannot be a party to the policy, including payor). Source of premium payments and confirmation that all premiums will be paid from a personal account that has no comingled business funds. If the proposed insured has never used marijuana, will need an explanation as to why the client works in this industry but has never tried the product. Drug Questionnaire Medical records from the primary care physician. If s/he has a medical marijuana card, need records from the doctor who provides the recommendation, if different. Financial Questionnaire Applicant must have multiple sources of income outside of the marijuana industry. If their sole source of income is only from the marijuana industry we would not be able to participate Copies of the last two years of personal tax returns Normal requirements otherwise Last Update: 8/2018 / Last Carrier Review: 8/2018 For agent use only. Not for distribution to the public.

4 John Hancock Considered as drug use - Usual underwriting for risk assessment applied. Informal - Drug questionnaire will be suggested to accompany application. All marijuana owners/workers are declined. There are challenges in terms of federal banking laws. With good MVR, no criminal or drug abuse history and must be disclosed on the Drug Questionnaire - Standard Tobacco class considered. Legal & General America Regular use or prescription use Table 2 on Standard Tobacco rates considered. The final rating depends on the reason for the marijuana use and is likely added to the rate. Does not consider them and will decline this risk. Lincoln National Will need to know the frequency of use and any other associated conditions which might be of concern such as alcohol use, other drug use or any psychiatric conditions such as depression. Social use, up to 2 times per week - Preferred Non-Tobacco rates Social use of less than once a month - Preferred Plus The rating will be associated with the underlying medical condition. Does not allow consideration for any person deriving income from the marijuana business. Last Update: 8/2018 / Last Carrier Review: 8/2018 For agent use only. Not for distribution to the public.

5 Preferred and Super Preferred - Not available Depending on the frequency and purpose of use - A rating may be required. North American Up to age 21- Will be charged tobacco rates for smoking or vaporizing. Starting at age 21 - May qualify for non-tobacco rates. A marijuana questionnaire (ICC17L3219) has been created and should be completed when your applicant is using or has used marijuana in the past. The drug questionnaire (ICC13L3113A) should be used only when there are other drugs used besides marijuana. Recreational is defined as those who do not use medically. Recreational use can be on an experimental, occasional, intermittent, moderate or heavy basis according to the Swiss manual. Recreational users qualify for non-tobacco rates starting at age 21. Those under age 21 will be charged tobacco rates. We will follow the suggested ratings from the Swiss manual under drug abuse or medicinal cannabis, depending on the reason for using and amount used. Preferred and preferred plus will not be allowed. Will consider workers at the dispensaries for personal coverage only on an individual basis. Unable to consider the owners of the business or operations. OneAmerica Consideration based on frequency of use, age, and any evidence of legal/social issues from usage. If smoked - Applicant will be considered as a Tobacco user Will need to know reason for it. Historically considers each case individually & will pursue securing full drug panels including marijuana THC testing and then take appropriate action. An assessment will include securing full and complete details around the occupations in this industry, so it is very important the producer define such occupational activities. It is still an illegal substance at the federal level which then has ramifications around banking and monetary access. Last Update: 8/2018 / Last Carrier Review: 8/2018 For agent use only. Not for distribution to the public.

6 Pacific Life 5 years no history of cannabis use - Preferred Best possible Applicants who admit to cannabis use on a limited, recreational basis or who have used recreational cannabis in the last 5 years on a limited basis - Preferred, Select or Standard Non-Nicotine rates possible provided: Use of cannabis is admitted Use is noted as experimental or occasional (< 4 times a month) No history of treatment for cannabis or other substance abuse in the last 10 years No current use including legitimate use of other drugs of abuse, including controlled substances such as opioids or benzodiazepines No evidence of complications related to drug use No psychiatric disorders Stable environment, personality and occupation No history of drug-related criminal activity No history of DUI or substance-related moving violation Meets above criteria, tests negative for THC*, is age 25 or older, and otherwise qualifies for Preferred No-nicotine or Select rates - Preferred Non-Nicotine and Select Age 18 or older, experimental or occasional use with positive THC*, otherwise qualifies for Standard per Swiss Re guidelines - Standard Non-Nicotine *We will test for THC if/when we can use the original specimen, but we generally will not request an additional specimen specifically for THC testing. Provided no other concerns re: use, they may be able to consider personal coverage on salaried workers in the cannabis industry in a state in which it is legal. They will not offer business insurance. Last Update: 8/2018 / Last Carrier Review: 8/2018 For agent use only. Not for distribution to the public.

7 Standard Tobacco (regardless of delivery system) Protective Life Non-Inhaled Standard Non-Tobacco is best rate offered Inhaled Standard Tobacco is best rate offered Note: Assuming all factors surrounding the marijuana, use are non-ratable; many conditions underlying medical marijuana use are significant to overall mortality and may be ratable or declined. Employees and business owners in the marijuana industry are not insurable for either business or personal coverage. Marijuana use does not require Smoker rates usual Tobacco guidelines apply. Prudential Ages 20 and under Decline Ages 21 and over WITH admission, WITH OR WITHOUT positive THC in urine: Up to 3 uses per week Nonsmoker Plus 4-6 uses per week Table B 7 or more uses per week - Decline ages 21 and over WITHOUT admission: Positive THC in urine Decline Prescribed by a physician in some states, it is considered compassionate use for the relief of pain, nausea, or anorexia due to cancer or AIDS. It may also be prescribed for persistent muscle spasms associated with MS, severe nausea, seizures, glaucoma, or chronic pain (i.e., arthritis, migraine headaches). When prescribed by a physician, any rating assessed will be based on the underlying condition, not the actual use of the prescribed medicinal marijuana. Does not allow consideration for any person deriving income from the marijuana business. Last Update: 8/2018 / Last Carrier Review: 8/2018 For agent use only. Not for distribution to the public.

8 SBLI As of 5/2018 (Did not respond to follow up) Depending on how many times used per month - Standard Nicotine rates to a Decline. Very rare use and Full disclosure - Non-Nicotine rates possible. Starts at a Table 4 depending on why prescribed; the rating will be associated with the underlying medical condition. Will not be able to make and offer on these types of clients and will decline this risk. Securian Financial 24 times or less uses per year and consistently candid on amount/frequency of use- Preferred Non-Tobacco rates is possible. 25 times or more uses per year - Standard Tobacco rates or higher depending on frequency and other risk factors. Will underwrite for the underlying condition. Generally, Table B rates or higher. Has not been participating in these scenarios. Symetra As of 5/2018 (Did not respond to follow up) Good MVR, no criminal or drug abuse history (must be disclosed & drug questionnaire submitted with application) - Standard Tobacco class Will be considered on an individual Nicotine use basis. This is looked at on a case by case basis. They will not offer coverage for the owners of the marijuana facility. Last Update: 8/2018 / Last Carrier Review: 8/2018 For agent use only. Not for distribution to the public.

9 Up to 12 times use per year (usage also includes any cigar usage) with clean HOS - Standard Nonsmoker best rates possible 13 or more times use per year (usage also includes any cigar use) - Standard Smoker - Decline with considering frequency & quantity of use. Transamerica Up to 12 x use per year (usage also includes any cigar usage) Standard Nonsmoker best rates possible; depending on how administered, frequency of use & reason for use with proof of prescription & medical records. 13 or more times use per year (usage also includes any cigar use) Standard Smoker best rate possible Preferred is no longer offered. Does not offer coverage on marijuana industry workers and will decline this risk. United of Omaha Under age 18: RNA Mild use up to 12 times monthly: Standard Non-Tobacco Moderate use up to 16 times monthly: Table 2 Non-Tobacco Excessive use up to 20 times monthly: Table 4 Non-Tobacco Over 20 times monthly: RNA Rate for cause generally minimum Table 4 rate class Unable to consider these individuals within their internal guidelines. Last Update: 8/2018 / Last Carrier Review: 8/2018 For agent use only. Not for distribution to the public.