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Thread: Life Insurance and suicide

  1. #1
    Member theremedy's Avatar
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    Life Insurance and suicide

    Does anyone know about life insurance and suicide?

    If one were to remove ones self from the planet and it was obviously intentional, would the life insurance policy pay the persons family? Or would it need to appear to have been an accident for the policy to pay?

    Thanks for any info anyone knows of.

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    Bronze Member nikkers04's Avatar
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    first off you shouldn't want to even know the answer. BUT i'm guessing 99.9% is going to say this is suicide and LIFE insurance would not be given.

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    I don't THINK they would pay the family in a case of suicide.

    I was watching a movie the other night and this guy wanted to kill himself but decided against it for insurance purposes & his family.

    I HOPE you aren't considering suicide???

  4. #4
    Platinum Member Miss Firecracker's Avatar
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    How long have you had the policy?

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  6. #5
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    My guess is "no".

    Why? Because if someone knew they were going to kill themselves and went out and purchased life insurance, they'd be intentionally using their life insurance for gain and thereforeeee, anyone wanting to kill themselves, could work the system.

  7. #6
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    Originally Posted by theremedy
    Does anyone know about life insurance and suicide?

    If one were to remove ones self from the planet and it was obviously intentional, would the life insurance policy pay the persons family? Or would it need to appear to have been an accident for the policy to pay?

    Thanks for any info anyone knows of.
    Life insurance carries a 2 yr suicide clause. After that they should pay out.

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    Originally Posted by Miss Firecracker
    How long have you had the policy?
    Exactly. That's what it depends on. You'll have to read the fine print on your policy first but normally if you've had it for at least 2 years, they will pay out. (Note that you can't have made changes to the policy in that time frame either.)

    My father died of an accidental drug overdose and had recently increased the coverage on his policy. They claimed it was a suicide and refused to pay out. My mom spent the next 11 years in legal proceedings until we finally settled.

  9. #8
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    Originally Posted by amtjrtcet
    Life insurance carries a 2 yr suicide clause. After that they should pay out.
    Ah, that makes sense. So, if you're going to kill yourself, buy life insurance and then wait two years.

  10. #9
    Platinum Member Miss Firecracker's Avatar
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    That is correct. But some can differ. I certainly wouldn't just count on that.

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    Depends upon the policy. Some are never, some are a few months.....someone else already posted you have to read the fine print.
    My friend's father in law committed suicide six months and one day after he took out a life insurance policy as the policy had a six month clause. But the worst thing is he left behind his grandchildren and loving wife....all because he couldn't pay a few bills. So not worth it. NOthing is worth killing yourself over.

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