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Can your beneficiary collect life-insurance benefits after your suicide?

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2014-10-22 19:53:35
2014-10-22 19:53:35

Life insurance is regulated by the various states, not by the federal government. It is deemed to be contrary to public interest to encourage suicide by making insurance proceeds available to those who see no way out of their financial difficulties. Therefore, insurance companies usually prohibit claims when suicide is the cause of death, but that limitation usually lasts for only 2 years from the date of policy issuance. If suicide occurs within 2 years, payment is typically limited to a refund of premiums.he policy. In sum, even if death is by suicide, benefits will normally be paid if death occurs after the policy has been in force for 2 years. Be sure, however, to refer to the written terms of the policy and the insurance code of the state in which the policy was issued, as they will always prevail.

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No, suicide is an exclusion where a death benefit is concerned.

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Can you collect pension money after my brother commited suicide

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If the insurance policy is older than two years of contestability period, then a benefit will be paid to the beneficiary.

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Your beneficiary can collect benefits from your insurance policy if you commit suicide if, 1. Your policy provisions for payout in the event of suicide. 2. Your waiting period has been satisfied if stipulated by your insurance carrier and policy. Read your policy carefully and contact your policy carrier for assistance and clarity as it relates to your policy.

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If you are the beneficiary of a life insured person who committed suicide, and the policy was older that two years (depending on what company and state), then yes.


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