Can People Who’ve Attempted Suicide In Their Distant Past Ever Have Life Insurance On Themselves?
Posted July 8, 2009 – 5:56 pm in: structured settlements FAQAlso, can OTHER people have life insurance on someone who’s attempted suicide?
Tags: Attempted, Distant, Ever, Have, Life, Past, People, Suicide, Their, Who've
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General underwriting guidelines say that if it has been 10 years or more, then the underwriter would be concerned with your control of the underlying problem. If you had bipolar, for instance, and it is still not well controlled, you will not likely find an underwritten policy even if you don’t have any suicidal thoughts. Your doctor should tell you it is “very well controlled.”
You could have insurance on yourself or other people could have it on you if you took it out prior to your suicide attempt or it was issued as a group policy.
Do not lie to the agent because the insurance company is likely to find out through your medical records or if you have ever applied for any type of insurance since. If you flat out lie, you can be declined for being a high moral risk. If you slip it past the insurance company your family might not really be covered during the contestability period regardless of the cause of death.
You should be in the clear as long as your don’t tell your agent about the suicide thing. Otherwise you could have huge premiums or no one will insure you. Another person insuring you would be difficult. Their has to be some material interest for them to take out the policy. Best to go and try and then go from there.
It is possible to get coverage.
Insurance companies want to know underlying cause for suicide attempt and steps taken since attempt to improve life and avoid repeat.
Usually the contract wont pay until it has been a few years in to the policy.
IN the US, you can add insurance through the workplace. There are no questions about such things even asked, so I don’t think you will have any issues getting a policy, but generally the policies will not pay out if the cause of death is suicide.