When Banks Offer Advice on Pot: RBC Says Users Could Pay 40 Percent More for Life, Health Insurance

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One of Canada’s biggest banks has a message for cannabis users who might be tempted to lie about their consumption for insurance purposes.

“Smoke pot? Do I tell tell my insurer?” reads a headline on an article in the Royal Bank of Canada’s (RBC) insurance website.

According to RBC, the “high stakes” of applying for various types of insurance might compel cannabis users to lie in policy applications because they’re afraid they’ll be denied.

As Canada gets closer to the legalization of cannabis, insurers have a vested interest in tweaking their policies to be more inclusive of cannabis users, but not all have done so.

Read full article here.

Amanda Siebert – Georgia Straight – October 19, 2017.

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