Insurance

[Sailfisher]

Anyone else motivated by leaving their family an insurance payout?

 

[TheFinalCountdown]

You can't do that. Life insurance has clauses that prevent payout in the event of a suicide. Even if they don't have a suicide clause they can still get you on non-disclosure of a mental illness or some other bullshit

 

[Escaper Boy]

Chances are high that you won't receive any insurance payout. Insurance company is all about profit. Their aim is to steal as much money as possible by using "black on white legality" for their benefit. Even if you die naturally, they will still try to find any kind of "loophole" in the system to prevent or at least reduce the amount of payout.

 

[TiredHorse]

Most insurance policies will pay out on suicide, but the policy needs to have been in place at least two years. (This was something important to me, too.)

 

[kaliban923]

Most insurance policies will pay out on suicide, but the policy needs to have been in place at least two years. (This was something important to me, too.)

Yes, this is accurate. I received payout after my mom's suicide and all of my employer policies had the same 2 year clause.

 

[Ruffian]

Most insurance policies will pay out on suicide, but the policy needs to have been in place at least two years. (This was something important to me, too.)

yes, this is in mine, 2 years

 

[CursedForDisaster]

I'm leaving my family my cryptocurrencies, an investment for the future years, decentralized, 100% theirs

 

[BridgeJumper]

Dont they cancel your insurance when they find out you killed yourself by your own hand?

 

[CursedForDisaster]

Dont they cancel your insurance when they find out you killed yourself by your own hand?

Not if it's an accident

 

[BridgeJumper]

Well suicide isnt an accident (unless you make it out to look like one)

 

[GeorgeJL]

You can't do that. Life insurance has clauses that prevent payout in the event of a suicide. Even if they don't have a suicide clause they can still get you on non-disclosure of a mental illness or some other bullshit

The suicide clause usually expires in two years. So they can't get you on any non-disclosure once the suicide clause has expired.

 

[Made4TV]

Yes this is true for the US. Most policies cover after 2 years. It will be stated plainly in the disclosures/disclaimers.