Marijuana users may be eligible for non-smoker rates

Assumption Life has recently updated its non-smoking definition for life, disability, and critical illness insurance products. An insured who uses marijuana without nicotine will be considered for non-smoker rates provided that he or she has not used any substance or product containing tobacco or nicotine or used e-cigarettes in the past 12 months. For underwritten products (such as FlexOptions, FlexTerm, ParPlus), marijuana use will continue to be a factor in underwriting decisions regarding rates and eligibility for coverage.

We are in the process of updating our applications, questionnaires, and marketing material affected by this change. Until these modifications are reflected on Lia and in Advisor Corner, we ask that you apply the following:

For new or pending business:

• If the insured is eligible for non-smoker rates and the application has not already been submitted, he or she must answer “Yes” to the smoking question and you must include a comment in the Special Instructions that the insured wishes to apply for non-smoker rates.
• If the application has already been submitted with smoker rates: Send an email to risk.assessment@assumption.ca stating that the insured wishes to apply for non-smoker rates and include the completed Tobacco Usage Questionnaire and Drug Usage Questionnaire.

For existing business: Have the client complete a Declaration of Insurability for the product in question, the Tobacco Usage Questionnaire and the Drug Usage Questionnaire. A urine sample may be required at the underwriter’s discretion.

Approval of non-smoker rates is subject to a review of the above-mentioned and any other underwriting requirements.