Employer life insurance doesn't seem to have a suicide clause

[almostdone]

Read through all the documents for my life insurance through my employer and couldn't find any clause that wouldn't cover suicide for the life insurance claim. I tried searching the doc for "suicide" "self" "harm" "exception" all that and it isn't mentioned at all. There's a separate AD&D insurance policy that definitely does not cover suicide, but the standard life insurance seems like it's covered. I'm not sure if there's a larger doc that would have more exceptions, but it really looks like I'm covered. I make pretty good money and the insurance is based on my salary, so my spouse would end up with close to $500k, and I guess life insurance pay-outs are untaxed. I know my spouse would rather have me not dead, but I feel like suddenly receiving $500k would make it a lot easier. I don't really care if anyone else is sad about me dying so it makes me feel a lot more at ease knowing that everyone would be fine if I'm gone.

 

[brighteyes]

Try searching "exclusions" as well. It seems odd to me that the policy wouldn't have at least the 2 year restriction for benefit payout in the event of non-accidental death.

 

[Someone123]

Two years is pretty standard, though maybe it doesn't apply with your policy- if you have had the insurance for over two years this would make it more certain to pay out.

 

[almostdone]

Try searching "exclusions" as well. It seems odd to me that the policy wouldn't have at least the 2 year restriction for benefit payout in the event of non-accidental death.

Hmm, just tried searching that as well. I guess because it's a "group policy" it doesn't have all the same exclusions a personal policy would. Like I said, the separate "accidental death and dismemberment" insurance definitely does not cover suicide, but the standard life insurance my employer provides has almost no exclusions. I never had to fill out an insurance application or provide proof of good health or anything like that, so they can't deny it based on the application either.

 

[Someone123]

Hmm, just tried searching that as well. I guess because it's a "group policy" it doesn't have all the same exclusions a personal policy would. Like I said, the separate "accidental death and dismemberment" insurance definitely does not cover suicide, but the standard life insurance my employer provides has almost no exclusions. I never had to fill out an insurance application or provide proof of good health or anything like that, so they can't deny it based on the application either.

Have you had coverage for at least two years?

 

[lionetta12]

Read through all the documents for my life insurance through my employer and couldn't find any clause that wouldn't cover suicide for the life insurance claim. I tried searching the doc for "suicide" "self" "harm" "exception" all that and it isn't mentioned at all. There's a separate AD&D insurance policy that definitely does not cover suicide, but the standard life insurance seems like it's covered. I'm not sure if there's a larger doc that would have more exceptions, but it really looks like I'm covered. I make pretty good money and the insurance is based on my salary, so my spouse would end up with close to $500k, and I guess life insurance pay-outs are untaxed. I know my spouse would rather have me not dead, but I feel like suddenly receiving $500k would make it a lot easier. I don't really care if anyone else is sad about me dying so it makes me feel a lot more at ease knowing that everyone would be fine if I'm gone.

All the life insurances I had through my corporate jobs never included that it covered suicides. However, most other life insurances I investigated for me to get privately, did include it. But I live in Scandinavia so I'm not sure if it's anything like that where you live.

 

[almostdone]

Have you had coverage for at least two years?

No, only started here recently. It looks like the 2 year "incontestability clause" is only meant for the insurance application though. So like if I filled out an insurance application and said "nah no history of depression here" then they would deny it based on the application if I ctb within 2 years. But I didn't fill out an application or anything since it's just covered by my employer.

All the life insurances I had through my corporate jobs never included that it covered suicides. However, most other life insurances I investigated for me to get privately, did include it. But I live in Scandinavia so I'm not sure if it's anything like that where you live.

That makes a lot of sense. I'm in the US so normally nothing works the same in the US and Scandinavia, but that seems to be same here. I tried a ton of googling and kept seeing people talk about the incontestability period and suicide clauses and all that, but when I started searching as group policies that's when people mentioned that group policies frequently have no exclusions.

Idk why I posted, guess I just wanted to talk it through to make sure I'm not missing something obvious. It also doesn't really matter if I'm wrong since I won't be here to find out, but I like the idea of leaving my widow with a shitload of money to pay off the house and everything. Kinda feel like I'm a shitty spouse sometimes so it will be nice to really do something good. I need to figure out the logistics of my note now. I want to make sure she knows about the insurance asap and leave her with all my passwords and everything, but I don't know if an investigator could see that as fraud or something, like I clearly got the insurance with the intention to ctb, so I want to make sure I leave a note that only she sees. I guess a delayed email would be good, in addition to a written note for the police to see so that it's a short investigation.