CTB$1,000,000 or Alive?

[Bruceleelives1969]

I have an insurance policy of 1,000,000 and I am disabled and in a lot of pain. I will never work again. I have one teenager and one in college and I am married.. So should I CTB so that they can be provided for financially? IS it worth the$ to CTB?

 

[Alchemist]

Most, if not all, life insurance policies have clauses that cancel the payout if the person commits suicide.

 

[pane]

Most, if not all, life insurance policies have clauses that cancel the payout if the person commits suicide.

Regarding suicide, I *believe* there's this "two-year" law/rule/policy in effect. If you've had the life insurance policy for at least two years then the insurance company can't deny payment on the basis of suicide.

Bruceleelives1969 you'll have to contact your insurance provider and ask what they do in case of suicide by the policyholder to be sure.

 

[Bruceleelives1969]

I have checked they are past 2 year rule

 

[allgood]

Not worth it if your reasons are purely based on, like, monetary value; it's enough to keep them comfortable for a while but it's actually not that much. I suspect your family would benefit much more from you being alive and present.

 

[DreamCatcher]

I'd try something that looked like an accident rather than suicide just to be safe as far as the insurance goes, but by all means that's enough money to keep them alive for the rest of their lives if they manage it well.

I thought about doing that myself to help my family and friends out, but 2 years is a long time to wait for it to come into full effect, and I'm not sure I can pull off an "accident" well enough.