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And DC. Up until now all 50 states and DC had legal, profitable tax paying, big employment businesses that, unlike all of their legal, profitable, tax paying, employing counterparts, couldn’t buy business life insurance. Even when the legalization of Cannabis growing and retail sales occurred in Alaska, California, Colorado, Maine, Massachusetts, Nevada, Oregon, Washington and of course DC, traditional business life insurance providers shied away from offering products that help and protect industry growth.

It’s a given in virtually every other business or industry that business life insurance products are available through all the major life insurance companies. Take a comparable with breweries and liquor retail outlets and US based life insurance companies gladly compete for their business life insurance business. They want to be the one that writes that multi million policy as loan collateral to expand a brewery or distillery. They want to be the company that provides the life insurance to fund a buy/sell agreement for partners that own a liquor store. But, at least as I see it, they are steering clear of the rapid growing legal marijuana business because they see the perceived tiff between the federal government and states to somehow be a detriment to, I don’t know, maybe the longevity of the policies. Life insurance companies love to write business, but they love keeping it on the books even more. Something about that ongoing cash flow??

But leave that fray to the US companies as international underwriters, almost always a bit more progressive, stepped in and are offering business life insurance for loan and investment collateral and buy/sell agreements as well as key person coverage in all stages of the legal cannabis business. If you count the eight states and DC that have legalized marijuana production and recreational use and add the other 21 states that have legal medical marijuana production and sales and well, our foreign business life insurance underwriters don’t see the test between the feds and the states changing much and they want your business.

Bottom line. In my business I move from client to client always looking for the business life insurance company that is going to treat them the best. With all of the US based traditional life insurance companies bowing out of the legal cannabis business life insurance market for now, that narrows the search down. Buy American becomes kind of an empty slogan when the American companies won’t accept your money. If you have questions or would like to know more about acquiring marijuana business life insurance for your legal marijuana business, call or email me directly. My name is Ed Hinerman. Let’s talk.