Doing the Right Thing
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In United States, insurance companies has a "Suicide clause" amended to the policy. This say that if a person commits suicide during the first 2 years of the policy, death proceeds will not be paid out. Instead, all premiums that been paid will be refunded.
So, if the person commits suicide after first 2 years, death benefit will be paid out. |
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dean-propps@sbcglobal.net
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After two years it depends on the state laws, they vary from state to state. Thatis in Missouri law. |
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Cerebal
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Life insurance policy wording usually specifies that the proceeds of the policy will not be paid if the insured takes his or her own life within a specified period of time (usually two years) after the policy's date of issue. |
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mbrcatz
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It only pays AFTER a set waiting period, usually 2-3 years after the policy was initially taken out. |
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Suzanne: YPA
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For a "whole life" or "term" policy, suicide is usually excluded for the first two years or so.
For accidental death policies, suicide is excluded for the duration of the policy, unless the person is legally insane (although this tends to vary by state).
I hope this helps. |
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nurse ratchet
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Nothing can be contested after 2 years, even suicide. |
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Hadley
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Yes, in some cases a life insurance policy does pay for a suicide.
The life insurance policy usually has an "Incontestable Clause" - stating the reasons it will not pay out within the first two years of the policy. In Colorado and a couple other states the incontestable period for a life insurance policy paying out for suicide is only one year.
This means the life insurance company can contest the payment of the death benefit if the death occurs within the contestable time frame.
After the contestable period (usually two years), the life insurance company must pay out the death benefit.
So, if suicide occurs more than two after having taken out the policy, the life insurance company should pay the claim.
I hope that helps you better understand the the life insurance payout provision relating to suicide.
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P.S. - Make sure you understand all exclusions to your life insurance policy. |
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?
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not really some do and some do not it is up to the cop and if u payed on time and try to live at last 2 or 4 yrs. then do it i do not no just go if u want to go |
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kearneyconsulting
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It depends entirely on the terms of the insurance contract. |
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Shea32
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After you have had the policy for 2 years at least is what most companies say |
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Russell
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The standard policy has a two year contingency period. This means that if you die of specific accidents, the Insurance Company has the right to review your case and decide whether or not to pay. This period usually covers suicide. Aswell as sky diving, having undisclosed diseases, and so on. After this contingency period, (usually 2 years as said before) all bets are off and the insurance company has to pay regardless of cause. |
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emariagethai
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some does |
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Mariposa
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Usually it does not. Read the fine print of the clause to make sure. |
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mom_single_sexy
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no suicide is not paid by it or a lot of people would go get a big policy and kill themselves....and then the insurance companies would go broke |
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not4u2c_yet
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Some do and some don't. Most all have a two year period that will not pay, after that they do. Hopefully you will change your mind within the two years? |
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gallow
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Nope, so I would suggest you talk tosomeone about your problems. Nothing is that bad where you would need to kill yourself for. It will all be ok, whatever it is. |
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MICHAEL R
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no. |
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michael m
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sorry no |
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charbar
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no, it does not. does that mean that you want to committ suicide? I sure hope not, life gets better. |
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RaJean
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Most policies do NOT pay out for suicide. I believe finding one for that amount will be impossible. |
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