Life insurance Does Life Insurance Pay For Suicidal Death?

[kayode10]

Life insurance is one of the insurance people are doing to get their family covered after they no longer exist on the Earth.

The insurance company will do proper investigation and carry out the payment of compensation once everything clears to them that there is no foul play in the death of the client.

I was reading a news of a woman who won a bet worth millions of Dollars. Over time the woman started having problem of too much money.

Just of recent the woman was founded in her apartment and some people were saying it was a suicide.

Assuming this woman did a life insurance in her lifetime, I want to ask that can insurance company pay for suicide death of the clients?

 

[btaliat]

I don't think the woman committed suicide. How will a woman commit suicide just because of too much money. Anyway, let us adress the question. Insurance will not cover for may loss that is caused intentionally. This is becuase it is agaist the rule of the insurance company policy to pay for such.

 

[Jamoflondon]

Normally if we are going to categorize suicidal death I don’t think it happens naturally. It is caused deliberately and no insurance company would be ready to cover for that because it’s just like the insured trying to scam the insurer. So it is definitely not advisable to be done because the client will lose out

 

[Chibson]

First of all it depends on the agreement between the individual and the insurance company as the case may be. I think normally life insurance is done in order to protect the property of the deceased. so in that case even if the person died by committing suicide his family will still inherit his possessions.

 

[Phabbyfundz]

I think this totally depends on the insurance company and what is stated in the terms of the contract. And I know certainly that no insurance company would be willing to cover any person or individual that willfully took their own life. But I wouldn't because I don't know the terms of the contract between the individual and their insurance company.

 

[anil02]

In India suicide was not consider for claim before 2014, but now life insurance policy pay for suicide in India. Any policy which bought after 2014 is payable in case if policy holder commit suicide. But Insurance company can reject claim on some grounds. Which are mention in policy. Although suicide is crime but some time person do it when they are some mental health problem

 

[AfriPeeps Official]

Life insurance policies will usually cover suicidal death so long as the policy was purchased at least two to three years before the insured died. There are few exceptions because after this waiting period, a life insurance policy's suicide clause and contestability clause expire. However, your beneficiary's claim can still be denied if you failed to disclose information at the time you purchased the policy, such as risky behaviors or a diagnosis for depression.

 

[Augusta]

Insurance company are after risks that are natural and not deliberate ones. If not the insurance company will run at a total loss because trust people they will have always wanted to fake it to make claims from the insurance company. So insurance company I doubt will pay for any suicide death

 

[anil02]

Life insurance policies will usually cover suicidal death so long as the policy was purchased at least two to three years before the insured died. There are few exceptions because after this waiting period, a life insurance policy's suicide clause and contestability clause expire. However, your beneficiary's claim can still be denied if you failed to disclose information at the time you purchased the policy, such as risky behaviors or a diagnosis for depression.

It is applied on each and every policy. It is duty of insured to disclosed all information about his health and other circumstnace. If some is working more risky work than they also disclosed it. Amount of premium is depends on it. Ut most faith is base of insurance

 

[Mandy96]

This is a capital NO. A death committed intentionally cannot be taken responsibility for, by the insurer. I mean this is deliberate. You can’t expect such to be compensated. It’s like one buying a business insurance and still go ahead to cause destruction for it and expect a coverage for it

 

[btaliat]

An underwriter that works for insurance company always take his time to investigate any matter before they give the money out to the beneficial or the purchaser of any insurance policy. So if the investigation comes out to be that the death is a suicide, the money will be forfeited.

 

[Alexandoy]

From what I know a death from suicide is not paid by the insurance and any other self-inflicted injuries. The reason for that is you can insure yourself when you are suicidal so that your death can bring some benefit to your family. I think there are movies here with that plot of suicidal death which is for the insurance to uncover.

 

[anil02]

This is a capital NO. A death committed intentionally cannot be taken responsibility for, by the insurer. I mean this is deliberate. You can’t expect such to be compensated. It’s like one buying a business insurance and still go ahead to cause destruction for it and expect a coverage for it

Most of suicide are intentionally. Most of peoples who commit suicide also written suicide not. It is also right that most of peoples who commit suicide have some problems in life to whom they have not any solution. Any unintentionally death is accident, not suicide

 

[Wisdom01]

But what I have idea of is that any insurance company would not cover the risk caused by you , it just have to happen naturally , and for the woman I am surprised that someone choose to die because of too much money , the story looks somehow confusing ,

 

[Jasmine]

As far as I know life insurance pays only for accidental deaths or deaths from disease, they don't pay for suicides. Just like you cannot claim for insurance if you cause intentional damage to your property, you cannot claim for insurance for intentional death. Interestingly, a user says in India, they pay for suides.

 

[Chibson]

Like someone have till the end of the year that in india insurance companies pay for suicide but the we aren't doing that before. but this is changes and it depends on the kind of insurance company you ventured into or enrolled on. a woman committing suicide because of too much money looks absurd.