Life Insurance

[Emily_Numb]

Long time lurker, very occasional poster here!
Does anyone have any knowledge about life insurance and if it covers Suicide?
I have a policy that I've held for at least 5 years which has a rather significant pay out at my time of death. I wanted to know if it's typical for life insurance to pay out for Suicide or not? I would call the insurance company but I am worried if I call them up and ask that specific question it may cause problems with my policy.
I am sure all policies are different but I just wanted to ask as I'm not sure how to check this without raising any flags. I'm in the UK so not sure if that makes any difference either.
Any advice would be so greatly appreciated. It's causing me massive anxiety wondering how to go about this.

 

[BPD Barbie]

If you have the policy documents it should say in there what it covers and what it doesn't.

 

[GoodPersonEffed]

I would suggest you call and ask them to send you a copy of your policy.

 

[faust]

Hello!
My friend has a life insurance as well and he wanted to get some injuries to make some money from it. But with suicide it is different.
All life insurance policies contain an exclusion for death "at your own hand". It will be something unusual if they pay in such an occasion. Just get a copy of your policy and check that. But most likely they won't pay a penny.

 

[Emily_Numb]

If you have the policy documents it should say in there what it covers and what it doesn't.

They are in my husbands filing cabinet in his office so I'll need to find the opportunity to root around for them when he's away for work next. Will it specifically mention suicide do you think? I just worry it's all going to be really vague.

 

[faust]

Hello!
My friend has a life insurance as well and he wanted to get some injuries to make some money from it. But with suicide it is different.
All life insurance policies contain an exclusion for death "at your own hand". It will be something unusual if they pay in such an occasion. Just get a copy of your policy and check that. But most likely they won't pay a penny.

Edit: only if it will be an "accident", insurance will be paid

 

[BPD Barbie]

They are in my husbands filing cabinet in his office so I'll need to find the opportunity to root around for them when he's away for work next. Will it specifically mention suicide do you think? I just worry it's all going to be really vague.

I imagine it will mention something related to it, yes.

 

[Emily_Numb]

Hello!
My friend has a life insurance as well and he wanted to get some injuries to make some money from it. But with suicide it is different.
All life insurance policies contain an exclusion for death "at your own hand". It will be something unusual if they pay in such an occasion. Just get a copy of your policy and check that. But most likely they won't pay a penny.

My brother in law took his own life by CO in a car about 6 years ago and his policy paid out which is why I asked. I'm not sure if it's a no pay out with absolutely every policy. I just though maybe someone who worked in insurance might know more.

 

[Dear Flabby]

They are in my husbands filing cabinet in his office so I'll need to find the opportunity to root around for them when he's away for work next. Will it specifically mention suicide do you think? I just worry it's all going to be really vague.

Some policies will pay out for suicide, especially if the policy has been in place for a set number of years. That's to avoid people buying a policy, and ctb'ing right away.
Edit: It is usually called something like an "exclusionary period of x years"
A family member had legal euthanasia, and their insurance paid the claim.

 

[faust]

My brother in law took his own life by CO in a car about 6 years ago and his policy paid out which is why I asked. I'm not sure if it's a no pay out with absolutely every policy. I just though maybe someone who worked in insurance might know more.

Do you remember which life insurance you have?

 

[GoodPersonEffed]

My brother in law took his own life by CO in a car about 6 years ago and his policy paid out which is why I asked. I'm not sure if it's a no pay out with absolutely every policy. I just though maybe someone who worked in insurance might know more.

I worked in insurance. It depends on the individual policy.

 

[faust]

"The Balance" says this:
After the suicide provision period, or the contestable period is over, which is usually two years from the date of purchase of a new policy, then a life insurance policy may pay the death benefit in a claim for suicide to the beneficiaries. To understand your policy terms, you can also check the policy's exclusions section, since the suicide provision can be different for each policy.

"The Balance" says this:
After the suicide provision period, or the contestable period is over, which is usually two years from the date of purchase of a new policy, then a life insurance policy may pay the death benefit in a claim for suicide to the beneficiaries. To understand your policy terms, you can also check the policy's exclusions section, since the suicide provision can be different for each policy.

Edit: seems that in different country, different insurance company everything is different