Good♥Gyrl
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Most policies exclude suicide, but only for two years, so the answers about a total exclusion are incorrect.
The company will simply cut a check to the beneficiary, and the beneficiary chooses how this money is spent. Obviously, they'd want to do something with the body - cremate, bury - etc., and they would use part of that as reimbursement to clean up any human matter or body fluids left behind after suicide. |
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Hadley
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Life insurance pays the proceeds of the life insurance policy direct to the beneficiary or beneficiaries stated on the life insurance policy.
The proceeds can be used by the beneficiaries as they see fit.
Life insurance proceeds are paid out for a suicide if the suicide takes place more than 2 years (in some states one year - Colorado) after the date the life insurance policy became effective.
The life insurance policy does not pick up the tab for disposing remains of a suicide.
A person could include in his/her will that it is their intention that the beneficiary of the life insurance policy use some of the proceeds from the policy to pay for their burial, or disposing of their remains.
I hope that helps! |
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AlphaFemale
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The life insurance would be paid to the beneficiary. I suppose it would be up to the beneficiary if they choose to pay for the funeral or not. The insurance would be paid only if it is stated in the insurance policy that suicide is covered. My policy stated that it wouldn't pay out for suicide committed in the first two years of the policy. So do some homework and make sure you aren't leaving a burden on anyone. |
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ever_curious
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nope - 99% of policies exclude suicide |
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The Guy
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no |
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BRYAN w/a Y
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i do not think so, you need a medical/bio hazard company for that. |
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Samantha1
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There will be no life insurance benefits if it is ruled as suicide. |
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cheridonna@prodigy.net
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Many insurance policies do not pay for suicides if it occurs within a specific amount of time/years after the policy is purchased.
When the beneficiary of the deceased receives the check, it's up to him/her how to spend the money. |
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Hippy
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Not sure...check your policy. |
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mkulda
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Suicides generally have a two year exclusion from the time the policy was taken out.
If the policy is older than two years then it will still pay out and if the beneficiary wants to pay for the remains disposal out of the proceeds they can, but they are not obligated to.
The next of kin is obligated to pay for the disposal and since the next of kin is not necessarily the same as the beneficiary, this can create a conflict. |
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2bizy
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The payout from a life insurance policy rarely, if ever, is predetermined to pay certain expenses. As for suicide, some companies will never pay the death benefit in the event of suicide, and some have a waiting period (ie 2 years). In general, the beneficiary would receive the premium payments that were made on the policy, like a refund. |
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deep5223
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If the policy if over 2 years old, it will pay and the beneficiary can decide what to do with the money. |
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Susan C
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What you do with the life insurance proceeds is up to you. Probably you will have to pay initially, and then reimburse after you get your insurance check. Although most policies exclude suicide initially, after 2 years by law they must pay. Check the policy to make sure it is over 2 years old. Good luck |
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cjl1618@sbcglobal.net
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depends on if the policy paid for suicide. some do, most dont. |
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fuzzycakes
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most of them have an exclusion of suicide. so no |
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miketorse
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Insurance companies exclude suicide. |
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mbrcatz
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No, life insurance is a straight cash payout to the beneficiary. |
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