HomehealthIs Life Insurance available to cover suicide?

Is Life Insurance available to cover suicide?

Life insurance companies must be aware of the possibility that someone might buy a policy with the intent to commit suicide soon after, so that their loved ones receive a payment for life insurance.

Although suicide is generally not covered within the first two-years of a life insurance policy, it is usually covered thereafter. This is called a suicide clause.

The policy’s death benefit will be paid to beneficiaries if a suicide occurs within two years of purchasing life insurance.

Beneficiaries are not eligible for death benefits if the suicide happens within the first two years of a policy. However, they might be eligible to receive a refund for premiums paid before the death.

Suicides are not allowed except in cases of physician-assisted suicide. California, Colorado and Oregon allow assisted suicide in five states: Washington, Washington, Vermont, Washington, Washington, and Washington.

To make a claim, you will need to know the name and certification of the death certificate if you are the beneficiary of the life policy.


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