Help Does life insurance cover suicide?

[Xerxes]

Something that has come to my mind recently is whether my employer-paid life insurance will cover death by suicide. I think my individual plan also covers suicide too if you've started the plan 2 years ago. Anyone come across this issue before? I'm actually worth more dead than I am alive if this is the case.

 

[Smilla]

Each policy varies. And yes, it's typical for there to be a 2 year clause/moratorium for suicide.

You need to read your particular policy.

 

[Angst Filled Fuck Up]

Yes, it varies per policy. Sometimes it's a case of if there's no indication you were suicidal and x amount of time has passed since you took out the policy, you're covered. But it really depends.

 

[Xerxes]

I would hate to just ask my insurance agent the suicide question on my policy because it just pops up a red flag for them. I've read that most have a suicide clause where a claim would be paid after 2 years of being on a plan. If you CTB within the two years, insurance companies can deny the claim. There's also cases where accidental deaths were claimed even though the decedent committed suicide, but made it looked like an accident.

 

[TiredHorse]

My policy also has the 2-year clause.

 

[Smilla]

I would hate to just ask my insurance agent the suicide question on my policy because it just pops up a red flag for them. I've read that most have a suicide clause where a claim would be paid after 2 years of being on a plan. If you CTB within the two years, insurance companies can deny the claim. There's also cases where accidental deaths were claimed even though the decedent committed suicide, but made it looked like an accident.

Just ask them for the policy info in general terms, depending on the company it might even be available online.

 

[Smilla]

http://time.com/money/3117698/how-life-insurance-policies-deal-with-suicide/

 

[Xerxes]

So group life insurance which is given to all state employees guarantees a $1000 payout upon death via suicide within 2 years, no restrictions, but if you were to get the supplemental policy where they deduct a portion of your paycheck to cover it, then the suicide clause goes into effect.

 

[Smilla]

So group life insurance which is given to all state employees guarantees a $1000 payout upon death via suicide within 2 years, no restrictions, but if you were to get the supplemental policy where they deduct a portion of your paycheck to cover it, then the suicide clause goes into effect.

Makes sense.

Also fuck insurance companies.

 

[longingforrelease]

my group plan has a one year suicide clause.