I Have Bought Life Insurance For More Than 3 Years, If I Suicide Now, Do My Beneficiaries Get The Face Money?
Posted November 13, 2009 – 4:26 pm in: term life insuranceMy life insurance is 20 years term life insurance
Tags: Beneficiaries, Bought, Face, Have, Insurance, Life, More, Suicide, Than, Years
14 Comments
It depends. How long is the contestable clause? Do you have an absolute suicide exclusion? You’re going to have to pull the policy form and read it – or call your agent and ask.
I’m pretty sure that your life insurance is void if you commit suicide and it gets proven to be one. That’s the common policy. So don’t kill yourself if you want your loved ones to get the money from it.
Life Insurance companies don’t pay on suicides. You shouldn’t even be thinking like that though, talk to someone who can help you. Nothing is so bad that is worth taking your life over.
Almost certainly not. Most policies exclude payments if the policy holder commits suicide. Otherwise it would be an ‘easy’ way for someone whose family was in financial trouble to make lots of money for them to have after he or she had killed themselves.
Check the ‘exclusions’ section of your policy’s Terms & Conditions
Hello, PLEASE don’t do this, it rally hurts your family. As for the beneficiaries getting money it depends on your policy and how it’s written. Usually after the first two years some policies pay on but a few do NOT. Some just return the amount of premium paid especially if it’s a term life vs a whole life policy. Money does not replace you however bad it seems. If you have insurance you most likely have a spouse and kids. Hold and hug them and talk to someone right now and keep talking about what’s up w/you.
I can’t believe people are actually giving you answers to your question. If you are considering suicide, get some help. Even if your insurance policy pays your beneficiaries the face amount of your policy, it hardly replaces you. You obviously went through the trouble of buying this policy three years ago because you care about your loved ones and what will happen after you are gone. Get some help, life isn’t all that bad.
Got to read the particular policy. If however, it could be shown that you bought the policy with suicide in mind it might be invalidated. Best bet is probably to keep on living. Besides… that way you can have some fun along the way…. and don’t worry…. you’ll eventually die anyway. .
WHOA!! First of all, suicide IS NOT the way to go!!
First, check your policy most have a suicide clause in them, usually it’s no recovery for the initial few months then it’s 50 to 75% of the policy then it’s 100% if the policy is paid in full.
Second, find a good psychiatric hospital and check into – NO problem is so bad that you need to committ suicide, there are people who can help.
Third, get involved in a good religious program, I must recommend Roman Catholics since thats what I am but any Christian community would accept you with open arms.
Think of another way bacause life insurance will not cover if you take your own life.You could drive your car off a cliff.Dont take your life
How would you know? you’ll be dead!
90% of the term policies written have a 2 or 3 year suicide clause in it. If you call the agent and ask they are duty bound to provide the information you asked and they might cancel the policy. Just pull the policy and read it
Each life insurance policy is different, but most life insurance companies have a suicide clause which states that they will NOT pay if you commit suicide within two years of getting your policy. Check your policy’s ‘exclusions’ Terms & Conditions section carefully, since the suicide provision can be different for each policy.
In the past these policies would almost always exclude suicide. However, after a number of court judgments against the industry, payouts do occur on death by suicide (presumably except for in the unlikely case that it can be shown that the suicide was just to benefit from the policy).
Generally, if an insured person commits suicide within the first two policy years, the insurer will return the premiums paid. Beneficiaries would not be able to collect the death benefit. However, a death benefit will usually be paid if the suicide occurs after the two year period.
If you are contemplating suicide, it is not worth it. Suicide is a permanent answer to a temporary problem but usually temporary problems can be easily resolved. Life has its ups and downs. There might be better things in store for you in the future. Don’t waste your life and put it all down the drain. Think about your family, your friends and all those people who care for you. Go to a psychologist first and seek some therapy, or call the suicide hot line in your area.
Take care.
i think suicide voids the polacy