2007-01-17 13:18:46 · 10 answers · asked by Crazylove 1 in Business & Finance ➔ Insurance
In every life insurance policies there's a suicide clause, you should read it if you have one. Suicide clause which states that they will NOT pay if you commit suicide within two years of getting your policy. The policy is void and refund the premiums to the policy owner.
2007-01-17 13:32:36 · answer #1 · answered by stiletto 4 · 0⤊ 0⤋
It depends if suicide is excluded from the policy or not. If it's not excluded, there's usually a time frame, say 1 month to 1 year before a payout for suicide. You need to read your policy.
2007-01-17 21:47:04 · answer #2 · answered by bundysmom 6 · 0⤊ 0⤋
Well, if the suicide happens within the policy contestible period - which varies from state to state, but is usually the first 2-5 years the policy is active, the insurance company flat out doesn't pay.
If it's AFTER the contestible period, they will.
2007-01-17 21:54:14 · answer #3 · answered by Anonymous 7 · 0⤊ 0⤋
As long as the suicide did not occur during the first 2 years since the policy was put into force, there should be no problem.
2007-01-17 21:22:32 · answer #4 · answered by lepooche 2 · 1⤊ 0⤋
In the case of suicide, most insurance companys will not pay a penny.
2007-01-17 21:23:12 · answer #5 · answered by kny390 6 · 0⤊ 0⤋
Most life insurances will have suicide rider.. They don't pay when the dead is declared a suicide. Insurance companies are there to screw people...
2007-01-17 21:22:58 · answer #6 · answered by Desi Dude 2 · 1⤊ 0⤋
A typical life insuranc policy will contain a claus that says they will not pay on a suicide that occurs less than 3 years after the policy is activated...after that, go ahead, blow your brains out, and your family will get paid
2007-01-17 21:22:57 · answer #7 · answered by alanc_59 5 · 0⤊ 1⤋
Generally, the insured must to die of natural causes, and suicide is not considered a natural cause.
2007-01-17 21:23:32 · answer #8 · answered by jammer 6 · 0⤊ 0⤋
becuase if you take your own life the company knows your going to hell so they dont want the family to be happy spending those big bucks while your burning lol just kidding its just the policy if you committ suicide they want pay its like the family knew you were that type of individual and they were looking to hit it big off of you i guess that too
2007-01-17 21:27:40 · answer #9 · answered by Anonymous · 0⤊ 1⤋
depends on the policy.
Many policies have suicide exclusions.
2007-01-17 21:22:10 · answer #10 · answered by jeffpa 2 · 0⤊ 0⤋