Foresters Financial has updated its underwriting guidelines across its non-medical life insurance product portfolio for Americans who use cannabis.
“As more States permit limited cannabis usage, particularly for medicinal purposes, we made the decision to modernize our products to stay in step with this evolving trend – a change that makes life insurance accessible to more people,” said Matt Berman, chief distribution officer, Foresters Financial.
Marijuana is legal in 11 states for adults over the age of 21, and legal for medical use in 33 states.
Foresters Financial insureds (members) receive a full suite of unique member benefits that furthers Foresters fraternal mission of enriching the well-being of hard-working families and their communities.
Member benefits include opportunities for scholarships, community building grants, as well as financial counseling and access to complimentary or discounted legal advice.
“Our approach to product innovation is driven by our history of providing life insurance with a larger purpose,” Berman said. “As another example, we recently introduced an industry-first suite of non-medical life insurance products that have modernized underwriting and competitive premiums for people living with type 2 diabetes.
“We take a holistic approach to our members’ well-being to help them enjoy a more rewarding life. We create products, incentives and unique benefits that enhance their commitment to health and wellness. Given the evolving trend on cannabis, making it easier for people to access a full suite of products is another example of how we are bringing our strategy to life.”