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Are There Any Life Insurance Policies That Will Pay Out In The Event Of Suicide?

Posted June 28, 2009 – 4:27 am in: structured settlements FAQ

Are there any life insurance policies that will pay out in the event of suicide?
No, I am not thinking of suicide. In the United States.

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12 Comments

  1. raichasa
    Posted June 28, 2009 at 4:27 am | Permalink

    Many do, but will not pay if the suicide happens within a certain period of time after the policy is purchased. So, you can buy a policy and then have to wait 7 years for it to pay in the event of suicide.

  2. chibbych
    Posted June 28, 2009 at 4:27 am | Permalink

    Sure they would love the money! They will even off whoever!

  3. Dana A
    Posted June 28, 2009 at 4:27 am | Permalink

    I believe that some of them do. Not sure which. I had one at one point that did.
    Dana (attorney)

  4. bobby d
    Posted June 28, 2009 at 4:27 am | Permalink

    I have never heard of one

  5. Baby Dress Shoes
    Posted June 28, 2009 at 4:27 am | Permalink

    Many of them do. I have one. Check with Guardian Life.
    http://www.guardianlife.com

  6. Sir Nick - R.I.P. M.J.
    Posted June 28, 2009 at 4:27 am | Permalink

    I dont think there is one. If there was, someone would take out a very large policy, and commit suicide in order for their family to get the money.
    Deaths are often investigated by insurance companies for the case of it being suicide, in which they wont pay out if its proven.
    Insurance companies dont like giving money out

  7. bud68
    Posted June 28, 2009 at 4:27 am | Permalink

    Most have a exclusion for the first several years the policy is in force, or exclude it entirely.

  8. ♥ Mel
    Posted June 28, 2009 at 4:27 am | Permalink

    None that i know of. Glad to hear you are not thinking about it.

  9. DEE W
    Posted June 28, 2009 at 4:27 am | Permalink

    I don’t know but if you do find one and get a policy then commit suicide make me a benificiaury please!

  10. Susie D
    Posted June 28, 2009 at 4:27 am | Permalink

    Read your fine print. Mine will pay out in event of suicide once I have been insured 5 years.
    I don’t plan on offing myself – but thought it was interesting that it was in there.

  11. FTG!
    Posted June 28, 2009 at 4:27 am | Permalink

    I hope that NONE of them do………………why should a widow collect because she drove her husband to kill himself..

  12. Bob W
    Posted June 28, 2009 at 4:27 am | Permalink

    Most policies have a suicide clause…BUT if the insured owns for policy for several years the suicide clause is not effective. This clause prevents someone from buying a million dollar policy on Monday and killing himself on Tuesday. The companies want to make sure that suicide is not the reason the applicant is buying the policy….By the way policies have war and terrorism clauses also…Look closely at what you buy

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