Most of the time the answer is yes. There is a two year contestability clause on life insurance policies. If the policy is in force past this period then the insurance company is not allowed to contest the policy no matter what the situation. Even in cases where the person outright lied to the insurance company and thereby committed fraud the company will pay the benefits without regard. I have had one case in my time as an agent whereby a suicide occurred before this two year period was up. What happens in this case is that the insurance company will return all premiums paid by the insured plus interest. The spouse did not expect even this and was not asking that the policy benefits be paid. She was familiar with the clause and was happy to receive anything from this policy. She did receive payment from other policies he had because they were beyond the two year period. I hope this answered your question.
Generally, insurance policies exclude suicide. Check with your insurance company, as they are all different.
That depends on the policy not the location. Most policies have a 2 year exclusion on suicide. After 2 years, suicide should also be covered. Consult your policy. mcdlife.com
No
Most life insurance policies do not pay out for suicide.
She curses her husband Creon and commits suicide by stabbing herself.
Life Insurance Companies do not cover suicide, subject to the "Suicide Clause" limitation in all life insurance policies. The suicide clause stats that no death payment will be made if an insured commits suicide within the first two years (one year in Colorado) that the policy is in force. This clause protects the insurance company against adverse selection - the purchase of a life isnurance policy in contemplation of a planned death in order for the beneficiary of the life insurance policy to collect the life insurance proceeds.
This depends upon the timing. If the insurance policy was taken out a year or more before your husband committed suicide, then the normal life insurance provisions would allow a normal claim process, and payment of the death benefit. There is usually a provision that if an insured person commits suicide within a year of taking out the policy, this is a kind of insurance fraud and the claim is not paid (although the premiums that have been paid can be refunded). I would also suggest that you read your policy and see what it actually says.
No. Life insurance policies are usally voided in the case of suicide.
No, suicide is an exclusion where a death benefit is concerned.
No
I live in Japan and in Japan you can't.
Al, a fellow transfer with Tris