Suicide and Life Insurance.

[Sito]

Things have been getting more bleak in my life in terms of my career, relationships, and finances and I'm looking at ending my life while not being a complete burden to my family and possibly leaving my child I only see on weekends some sort of security. I know life insurance will deny claims if the death was proven to be a result from suicide. I want to take out something like a term policy since it has a high face value and low premiums and I'm still somewhat young. My family is in trouble and its mainly my fault and the least I can do is die and have it be worth something. What would be a surefire way of dying where the insurance company would not be able to deny my the claim.

 

[UKscotty]

We are definitely not allowed to give advice on this one as it is fraud.

However, I would say think about what could been seen as misadventure or an open verdict. Common with the celebs.

 

[locked*n*loaded]

Most life insurance policies have clauses whereby they don't have to pay out for deaths ruled suicide for, usually, a couple years from the policy's inception. So, if you bought a policy today, you'd have to wait 2 years before killing yourself before the underwriting company would be legally required to pay on the claim made by your family. Some policies might be 3 years. You can go online and read the "terms" of various companies before committing to one. There's no "fraud" involved here. That's how they write the policies. There *may* be questions you have to answer about whether you are suicidal at the time of opening the policy. I don't know if there are questions like that, as I have never taken out a life insurance policy. Just a guess. But, I do know what I told you is correct. I'll leave it to you as how you answer any questions you have to "attest to", to you, should there be any.

 

[user127679866]

From the research ive done, If you have been diagnosed with any mental illness or depression they likely will not grant you a policy at all. If by luck you are able to get one, you would have to wait two years to be granted payout if death by suicide.

 

[Sito]

Most life insurance policies have clauses whereby they don't have to pay out for deaths ruled suicide for, usually, a couple years from the policy's inception. So, if you bought a policy today, you'd have to wait 2 years before killing yourself before the underwriting company would be legally required to pay on the claim made by your family. Some policies might be 3 years. You can go online and read the "terms" of various companies before committing to one. There's no "fraud" involved here. That's how they write the policies. There *may* be questions you have to answer about whether you are suicidal at the time of opening the policy. I don't know if there are questions like that, as I have never taken out a life insurance policy. Just a guess. But, I do know what I told you is correct. I'll leave it to you as how you answer any questions you have to "attest to", to you, should there be any.

Thank you.