Yannick Craigwell shows off some of his edible marijuana baked treats in Vancouver, Wednesday, Oct. 3, 2018. (THE CANADIAN PRESS Jonathan Hayward)

VIDEO: Cannabis edibles may drive up life insurance premiums

Edibles are set to become legal in Canada on Oct. 17, with sales expected 60 days later

Canadians looking to enjoy soon-to-be-legalized pot-infused edibles could get hit with higher insurance premiums — depending on the size of their appetite.

Many insurers no longer treat cannabis users as cigarette smokers — who pay much higher premiums due to the high-risk activity — provided there is no tobacco or nicotine in the products they use.

The shift came in recent years as Canada moved to legalize pot for recreational use, starting with dried flower, oils, plants and seeds.

However, to avoid paying more, cannabis usage must stay below a set number per week and many insurers count any kind of pot, whether it is smoked or sipped or chewed.

The threshold ranges from two to four cannabis usages per week, depending on the insurer, said Lorne Marr, LSM Insurance’s director of new business development.

“More than four, then you would still be treated as a non-smoker with most companies, but there would be an extra rating or extra premium attached to that marijuana use,” he said.

“And most companies treat the edibles as similar to smoking.”

But the approach among insurers varies, with some allowing for unlimited edibles consumption and others deeming a client a smoker after more than four weekly pot usages.

“You definitely want to shop around, because there could be a big difference,” Marr said.

Cannabis-infused foods, beverages as well as topicals such as lotions containing cannabidiol — known as CBD, the non-intoxicating compound found in pot are set to hit retail shelves as early as mid-December.

Earlier this month, Ottawa said the legislation regulating these new, next-generation cannabis products will come into force on Oct. 17. In turn, due to regulatory requirements, the earliest they can go on sales is 60 days later.

Companies are expecting brisk demand for these products as they appeal to a broader base of consumers, including those who don’t want to smoke.

The Canadian Life and Health Insurance Association said pot consumption, for either recreational or medical use, will be taken into account when assessing risk and premiums.

“However, our members are continuing to assess the risks of any form of cannabis and will make adjustments to the risk profile as cannabis becomes more prominent in the market and more evidence of health impacts are known,” a spokesman said in an emailed statement.

Manulife Financial Corp. said it reviewed its underwriting around cannabis use in 2016 and currently, any users who do not use any nicotine products or e-cigarettes will be classified as non-smokers.

The insurer’s individual insurance products are available to both recreational or medical cannabis users, but factors affecting the rates include the amounts used, the company said in an emailed statement.

“The information about quantity used is proprietary, most recreational users are issued standard premium rates… Edibles are currently considered the same as all other forms of consumption,” a spokeswoman said in a statement.

Armina Ligaya, The Canadian Press

Like us on Facebook and follow us on Twitter

Just Posted

Music at the Hangar

On Sunday November 17 at 2 p.m., the Golden Seniors Centre will… Continue reading

BCTF rejects mediator’s recommendations for settlement

Negotiations between B.C. teachers and the province will continue

Decorated army veteran leads Golden Remembrance Day Parade

After tours in Cyprus, Bosnia, and three tours in Afghanistan, Kevin Bannister… Continue reading

Turning back the pages: Please remember

From the Concise Oxford Dictionary, Remembrance: Remembering or being remembered, memory, recollection.… Continue reading

Metis Week recognizes Golden’s roots

Starting on November 10, Golden will be acknowledging Metis Week, a week… Continue reading

VIDEO: B.C. to restrict nicotine content, bring in 20% tax on vaping products

Province will also restrict candy and fruit flavoured vaping products to adult-only stores

Seguin lifts surging Stars to 4-2 win over Canucks

Dallas is 6-0-1 in last seven outings

B.C. government working with RCMP to address $10 million in budget cuts

Public Safety Minister Mike Farnworth issues statement following report of RCMP cost-cutting

‘City that protects rapists’: Sexual assault survivor slams Kelowna mayor for defending RCMP

Heather Friesen spent the morning handing out flyers around city hall calling out the mayor

BC Liquor Stores to move fully to paper bags by March

Vancouver Island to be the first to convert to paper bags in November

Tolko shuts B.C. divisions for two weeks over holidays

Head office to close from Dec. 23-27; two weeks’ downtime runs Dec. 21-Jan. 6

Port Moody mayor says stayed sex assault charge related to ‘awkward date’

Rob Vagramov said charge was related to a string of dates in 2015

UBC conference draws fire over speaker from Chinese tech company blacklisted in U.S.

The company that has been blacklisted by the U.S. over links to the repression of China’s Muslim minority

Norma Ballendine: The Golden Years

Norma Balendine: The Golden Years

Most Read