if you commites suicide would the life insurance be paid out say to the kids?
If you commites suicide would the life insurance be paid out say to the kids?
Its just a thought life is a bit too much right now. I have life insurance which would be paid out to my kids in the event of my death so I was wondering if I commited suicide would they get the payment,
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7 Responses
2.1.2010
Best Answer – Chosen by Voters It depends on several things – 1. if you have an absolute suicide exclusion clause in your policy and 2. how long you've held the policy. Every company is allowed to exclude coverage for suicide the first few years. After that, though, unless there's a suicide exclusion, they pay out. They pay to the named beneficiary. If your kids are minors, it's their guardian who will get the money.Plus, you'll be laying an irrevocable guilt trip on your kids. Not very fair of you. Go talk to your pastor instead.
2.1.2010
in most instances the answer is no. insurance policies usually have a clause in them that would negate payment if the person died as a result of a suicide. there are some companies that would stipulate suicide as a recognized means of "paying out a claim", but you would really need to either carefully go over the policy you already have or research other insurance companies and their policies that speak directly on that point. ( sidebar: I don't know if your a religious person or not, and in a way it doesn't really matter, but you have to realize that suicide is never the answer to any problem. it always affects more people than you think it does, and not always in a good way. you say you have kids, think of them. there are always alternatives to consider. death is a normal part of life, it's avoided by no one. so please, for the sake of your children, don't concentrate on it and try to find ways to make your life more meaningful ).
2.1.2010
depends on the clause in the life insurance policy.if it does not SPECIFICALLY mention that no beneifits are to be paid out if you commit suicide,then,at least they teach in the life insurance classes,that YES they do pay.An interesting thought i also had was that trucking companies carry a million dollar policy,so ,if you happened to get killed by going up under the rear tires of an 18 wheeler,your kids would be able to get that as well,as courts would most likely find the trucking co at least half at fault.However,I personally would rather try to be around in my childrens life,to teach them how to get into college and have better lives than I had
2.1.2010
If I commit suicide then my policies would pay because they both have 2-yr clauses and I've owned the policies longer than two years. But, that's just my policies. Also, my wife would get the proceeds since she's the beneficiary. Luckily I won't be doing that so she shouldn't get excited just yet.
2.1.2010
Okay first off, don't commit suicide, please.Second no life insurance wouldn't cover suicide.
2.1.2010
NO. They get nothing. I promise your policy says so. ALL have said so for the past 50ish years, even for employees of the insurance companies.
2.1.2010
In some countries the answer is YES, but in America the answer is NO.