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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Kitamaat women complete the three-peat at All Native

Haisla team unstoppable in final as they rout Hazelton; Adelia Paul back to back MVP

No injuries reported following Kitimat Scotiabank robbery

RCMP release image of man wanted in connection with robbery

Northern Health recommends self-quarantine for people returning from Hubei

The healthcare provider said it isn’t neccessary for healthy children to wear face masks

Wet’suwet’en return to camps near Houston, Coastal GasLink workers move through: First Nation

Opponents of a pipeline who support the Wet’suwet’en hereditary chiefs have reoccupied camps at centre of arrests

Municipal water passes lead tests with flying colours

You may, however, want to test your water at home

VIDEO: Ottawa wants quick, peaceful resolution to pipeline protests, Trudeau says

The protests have manifested themselves as blockades on different rail lines across the country

Canucks acquire forward Tyler Toffoli from Kings in push for playoffs

Vancouver sends Schaller, Madden, pick to L.A.

New highway proposed between Alberta and B.C.

The route would connect Red Deer to Kamloops

Wet’suwet’en and B.C. government have been talking Aboriginal title for a year

Coastal GasLink says it has agreements with all 20 elected First Nations councils along the 670-kilometre route

Trudeau tightlipped on plan to end protests ‘quickly and peacefully’

The prime minister, who cancelled a two-day trip to Barbados this week to deal with the crisis at home

B.C. budget expected to stay the course as economic growth moderates

Finance minister said ICBC costs have affected budget

Canadian standards for coronavirus protection to be reviewed, health agency says

The protocols set out how health workers should protect themselves and their patients

Monday marks one-year anniversary of man missing from Langley

42-year-old B.C. man, Searl Smith, was last seen leaving Langley Memorial Hospital on Feb. 17, 2019

BC Ferries sailings filling up Family Day Monday

More than 20 sailings added between Swartz Bay and Tsawwassen for long weekend

Most Read