Would suicide void a life insurance policy and would it be considered "accidental death"?
Posted in Life Insurance Payments about 1 year ago, 7 replies
Thanks,
Deborah
submitted by Deborah in Kansas
Thanks,
Deborah
I'm sorry to hear about your loss. Usually, life insurance policies have a two year contestibility clause. This means if your brother committed suicide within two years of purchasing his life insurance policy the policy will not pay. If he has had his policy longer than two years then you should be able to collect on his policy.
submitted by Byron Udell in Chicago, IL
@ June 18, 2008 - 12:06 PM
Reply
i agree with andrew
I will add to this a little. First, you are correct about the two year contestability, if after two years from issue, the company has to pay. If within the two years, you need to ask the insurance company, as many companies will pay if the cannot prove there were any plans or intentions prior to the issue of the policy. This can be based on state regulations forcing the insurance company.
First, you should call your state insurance department and ask them for the regulation in your state, then call the insurance company and ask them.
Good luck, and sorry for your loss.
Dave
dhorsey@myclearview.com
First, you should call your state insurance department and ask them for the regulation in your state, then call the insurance company and ask them.
Good luck, and sorry for your loss.
Dave
dhorsey@myclearview.com
Sorry, forgot to answer other question...no, it would not be considered an accident, so if life insurance is accidental only, it will not pay.
Dave
Dave
I respectfully add this: ask an insurance coverage attorney of your choice, not the life insurance company which will deny the claim.
Assuming that the suicide clause in question is applicable (a separate discussion), there is a legal presumption against suicide in most jurisdictions. Suicide, in civil jurisprudence, generally requires not only self destruction but the intent to effect it, which entails proof that is frequently circumstantial and- depending on the facts- unpersuasive to a jury. Do not assume, therefore, that the situation is as cut and dried as might first appear.
Please accept my sympathy on your loss.
Assuming that the suicide clause in question is applicable (a separate discussion), there is a legal presumption against suicide in most jurisdictions. Suicide, in civil jurisprudence, generally requires not only self destruction but the intent to effect it, which entails proof that is frequently circumstantial and- depending on the facts- unpersuasive to a jury. Do not assume, therefore, that the situation is as cut and dried as might first appear.
Please accept my sympathy on your loss.
Sorry about your loss. Consult a lawyer for legal advice. Whether the policy is payable is usually determinable from its terms or from relevant state law.