If I committ suicide, will my life insurance still pay?
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12 Responses
2.1.2010
Best Answer – Chosen by Voters If you kill yourself in the first 2 years, then it will only refund the premiums to your beneficiary.If you kill yourself after the first 2 years, then it will pay the face amount to your beneficiary. Source(s): http://finance1o1.blogspot.com
2.1.2010
The suicide clause contained in most life insurance contracts usually state that, if suicide takes place during the first years (usually 2) of the policy, then the contract is void and a return of premium proceeds. After the specified period (again, usually 2 years), the clause has no effect, and the benefits of the policy would be paid.Read the contract, it usually is stated in readable English (as opposed to the strong Legal verbose of old contracts).
2.1.2010
If you are contemplating suicide, I suggest you see a psychiatrist or licensed counselor. First and foremost, If you accept Jesus Christ as your Lord and Savior, He can turn your life around. There's nothing going on in your life that Jesus can't help you overcome. He said, "Come unto me, all ye that are heavy laden, and I will give you rest." He will bear your burdens, if you'll let Him.Life insurance policies usually have a two-year contestable period. This means that the insurance company can contest the policy if death occurs in the first two policy years. This contestable period also relieves the company from having to pay a claim for death by suicide, if it occurs in the first two policy years. Check your policy because the contestable period may be different in your state.Best wishes, and may God bless you. Source(s): Retired agent, 30 yrs. service
2.1.2010
If it were me, and it's not,thank god, I'd call my insurance broker and ask about suicide coverage, I'm sure they will sell you a policy. When you call, be sure to stand on the upper ledge of the insurance company's building so they know you mean business. Good Luck
2.1.2010
Is there a suicide exclusion? Have you held the policy past the contestable period? If the insured suicides within the contestable period, the policy doesn't pay. That's usually 2 – 3 years, varies by state. Source(s): agent, 21+ years
2.1.2010
I PERSUME THAT YOU WANT TO KNOW FOR ACADEMIC INTEREST. AM I RIGHT. RIGHT. SUICIDE IS A DECISION TAKEN AT THE SPURT OF THE MOMENT AND MAY NOT BE PLANNED YEARS IN ADVANCE AS PER THE INSURANCE Co.s. THE INSURERS ATTACH A FIRST YEAR SUICIDE CLAUSE TO GUARD THEMSELVES AGAISNT PEOPLE UNDER FINANCIAL STRESS WHO MAY OPT FOR INSURANCE AND HOPE TO LEAVE MONEY FOR THEIR HEIR TO SETTLE THE OUTSTANDING LOAN WITH INSURANCE MONEY AFTER HIS DEATH. SO IF SOME ONE COMMITS SUICIDE within a year of taking the policy INSURER SHALL NOT PAY BECAUSE THE INSURANCE POLICY IS TAKEN FOR WRONGFUL REASONS ab-initio.
2.1.2010
Please don't kill yourself. It's a selfish thing to do, and it hurts many people– some you may not even realize. Life is hard, but it will always get better. Tough it out and work through the hard times. Don't go killing yourself.
2.1.2010
Void. because you kill yourself on purpose, unless you die of an accident or unintentionally. Btw why do you want to kill yourself to pay your benefactors? There are others ways to solve.
2.1.2010
No. Call 1-800-784-2433 for more info.
2.1.2010
You will need to read your policy. It varies.
2.1.2010
Nope it voids.All are the same : (
2.1.2010
NO! Are you joking. this isn't fair to the real suicidal people online. Give us a break!