Does life insurance pay out if the policy holder

Mominator · February 2010

commits suicide?

Random I know. I'd be happy to share the entire chain of thoughts that went into this question if your bored, but I'm not going to type it out if no one asks Big Smile

Heidisean · February 2010

no, it has to be natural causes.

Andrewsgal · February 2010

I don't know if it depends on the policy or not, but I do know the one person we know who committed suicide his policy did not pay out.

breezee_bean · February 2010

i know that most of the companies in Canada have a suicide clause that says they may not pay out of they commit suicide within 2 years of the date of issue. You for sure want to check the policy details.

springmom · February 2010

I think most policies have a clause to prevent people from killing themselves to leave $$ for kids/spouse/etc.

Who's killing themselves and how?

Jodi&Joe · February 2010

Depends on the policy.

I'm not positive but I'm pretty sure ours do...but there is a time clause in there. Like, it will pay out as long as the person does not commit suicide w/in the first 2 years of owning the policy.

Temp108743750006959 · February 2010

oh honey, I'll give you my $59 dollars from my tax refund -- just pls don't off your DH and make it look like a suicide.

that said, yes and no. Sadly, a friend's friend just committed suicide and the 'no backsies' clause was only for the first year. He had the policy for six years, so she did get his life insurance. I am guessing it's a policy and/or state thing? not sure.

oparcm · February 2010

I distinctly remember my agent telling us (I was pg at the time) that our policies were null and void if we committed suicide. He looked kind of uncomfortable bringing it up.

CTFandme · February 2010

don't do it!

Mominator · February 2010

springmom:

Who's killing themselves and how?

No one real. Long story short, my oldest and I were talking about how he was named. He was born in the 90's, think Seattle Grunge, and I always like the name "Jeremy" after I heard the Pearl Jam song. I told him that I got his name from a rather unpleasant song, we ended up looking up the video on YouTube. At the end of the video when the kid killed himself I thought to myself "huh, I wonder if the parents will get paid out on that kids life insurance policy". Like I said, random.

Heidisean · February 2010

Mominator:
springmom:

Who's killing themselves and how?

No one real. Long story short, my oldest and I were talking about how he was named. He was born in the 90's, think Seattle Grunge, and I always like the name "Jeremy" after I heard the Pearl Jam song. I told him that I got his name from a rather unpleasant song, we ended up looking up the video on YouTube. At the end of the video when the kid killed himself I thought to myself "huh, I wonder if the parents will get paid out on that kids life insurance policy". Like I said, random.

WOW you have some very unpleasant and weird thoughts. I don't think I would have thought that!

Mominator · February 2010

Heidisean:
Mominator:

WOW you have some very unpleasant and weird thoughts. I don't think I would have thought that!

I think that it was because stbxh and I were talking earlier today because he put me and both kids as beneficiaries on his life insurance policy, so life insurance was kind of already on my mind.

MelandJeff · February 2010

Mine does. I had to refrain from slitting my wrists for 1 year though, LOL!

championmama · February 2010

my grandfather's policy paid out. There was a clause that stated the policy had to be in effect 2 years before it would pay out for a suicide.

FriskyPanda · February 2010

Most have a 2yr contestibility period. If someone kills themselves within that period of time it won't cover, generally after that it will. I'd read the policy thoroughly to be sure though.

MrsHadley · February 2010

Ours have the 2 year waiting period... I think. While normally I would say "I should check on that". I probably won't;)

sunshiny79 · February 2010

Ours does but only after the first 2 years of the policy.

hopefulmom · February 2010

No

Mrs Manners · February 2010

-auntie-:
Some policies do. Depends. Usually there is a period of time the policy must be in effect before suicide would be covered.

This. My coworkers brother just killed himself. Apparently he researched his policy and found out that he was beyond the time period for exclusion. I think he left a note and a copy of the policy (she alluded to something like this but I didn't ask any details).

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