I have bought life insurance for more than 3 years, if I suicide now, do my beneficiaries get the face money?

Question

My life insurance is 20 years term life insurance

Answer 1

It depends. How long is the contestable clause? Do you have an absolute suicide exclusion? You're going to have to pull the policy form and read it - or call your agent and ask.

Answer 2

Each life insurance policy is different, but most life insurance companies have a suicide clause which states that they will NOT pay if you commit suicide within two years of getting your policy. Check your policy's 'exclusions' Terms & Conditions section carefully, since the suicide provision can be different for each policy.

In the past these policies would almost always exclude suicide. However, after a number of court judgments against the industry, payouts do occur on death by suicide (presumably except for in the unlikely case that it can be shown that the suicide was just to benefit from the policy).

Generally, if an insured person commits suicide within the first two policy years, the insurer will return the premiums paid. Beneficiaries would not be able to collect the death benefit. However, a death benefit will usually be paid if the suicide occurs after the two year period.

If you are contemplating suicide, it is not worth it. Suicide is a permanent answer to a temporary problem but usually temporary problems can be easily resolved. Life has its ups and downs. There might be better things in store for you in the future. Don't waste your life and put it all down the drain. Think about your family, your friends and all those people who care for you. Go to a psychologist first and seek some therapy, or call the suicide hot line in your area.

Take care.

Answer 3

Hello, PLEASE don't do this, it rally hurts your family. As for the beneficiaries getting money it depends on your policy and how it's written. Usually after the first two years some policies pay on but a few do NOT. Some just return the amount of premium paid especially if it's a term life vs a whole life policy. Money does not replace you however bad it seems. If you have insurance you most likely have a spouse and kids. Hold and hug them and talk to someone right now and keep talking about what's up w/you.

Answer 4

I can't believe people are actually giving you answers to your question. If you are considering suicide, get some help. Even if your insurance policy pays your beneficiaries the face amount of your policy, it hardly replaces you. You obviously went through the trouble of buying this policy three years ago because you care about your loved ones and what will happen after you are gone. Get some help, life isn't all that bad.

Answer 5

First, check your policy most have a suicide clause in them, usually it's no recovery for the initial few months then it's 50 to 75% of the policy then it's 100% if the policy is paid in full.

Second, find a good psychiatric hospital and check into - NO problem is so bad that you need to committ suicide, there are people who can help.

Third, get involved in a good religious program, I must recommend Roman Catholics since thats what I am but any Christian community would accept you with open arms.

Answer 6

90% of the term policies written have a 2 or 3 year suicide clause in it. If you call the agent and ask they are duty bound to provide the information you asked and they might cancel the policy. Just pull the policy and read it

Answer 7

First, you want to ask your coverage rep this question. the reason of it really is because all plans are fairly diverse. also, each and each and every state regulates the peace of mind organizations doing organisation withn their borders, and would impose law handling this certain topic. however, what i'm about to allow you to recognize is a commonly used answer, no longer a particular one. back, you should study with your coverage rep to make sure for certain. maximum vendors impose a waiting era for reward. What which ability is they're going to impose a time-body, commonly 6 months to a three hundred and sixty 5 days, wherein reward would not be paid, if the insured member suffered an insured demise mission. So ask your rep what the waiting era for finished coverage is. 2d, you also should be attentive to the spcific language of your coverage. maximum life coverage rules conceal you for "injuries," no longer health appropriate subject matters concerning mortality. So in case you've been to struggle through a heart attack, too undesirable. yet once you're run over with the help of a bus, positive. also, acts of conflict and acts of God are classic exclusions to maximum coverage rules. as an example you're on the ninth tee and a lightning bolt strikes as you're making your upward swing, taking your life. Oops - act of God - no longer coated. Lightning, wind, tornadoes, hurricanes, the elements regularly, severe warmth, can all be seen acts of God, and not in any respect be coated, so that is a good theory to ask your rep what's and is not any longer coated, once you do not recognize. you could continually take a replica of your life coverage certificate to an criminal professional for interpretation. they're commonly maximum efficient in interpreting what you're surely coated FOR. after all, be a good customer. examine the positive print and the teachings that got here with what you've bought. that is our duty as shoppers to substantiate something we purchase meets with our expectancies of performance. If the service or product does no longer provide, save round for one which does. yet do it as a sensible customer. do not purely purchase coverage because you want or pick coverage. purchase coverage because it really is going to take care of you from those belongings you concentration on insurable, and can't stay without. What you'll discover is that countless the pollicies being presented at rediculously low prices furnish rediculoulsy low reward in go back. desire that enables.

Answer 8

Life Insurance companies don't pay on suicides. You shouldn't even be thinking like that though, talk to someone who can help you. Nothing is so bad that is worth taking your life over.

Answer 9

Got to read the particular policy. If however, it could be shown that you bought the policy with suicide in mind it might be invalidated. Best bet is probably to keep on living. Besides... that way you can have some fun along the way.... and don't worry.... you'll eventually die anyway. .

Answer 10

I'm pretty sure that your life insurance is void if you commit suicide and it gets proven to be one. That's the common policy. So don't kill yourself if you want your loved ones to get the money from it.