Invalidating life insurance
For family members, though, there may eventually be financial matters to deal with as well.
I don’t know whether actor Robin Williams, who died by suicide this week, carried life insurance.
As a rule of thumb, if a life insurance policy is purchased within two years before the suicide, the death benefit may not be paid.
We'll cover everything you need to know to help you understand if a life insurance company will still pay the death benefit when the cause of death is suicide.
The health risks of smoking have been well documented and insurance companies protect themselves from this higher risk by increasing rates for tobacco users.
Never give up on your claim if your insurance company denies a claim based on a lapse.But what happens when you start after you have already taken out a policy?There are many levels of tobacco use, from the occasional cigar smoker to the heavy cigarette smoker.The key rules Usually, this clause states that no death benefit will be paid if the insured commits suicide within two years of taking out a policy.Whenever an insured person replaces an existing life insurance policy with a new one, the time clock for the suicide clause is set back to zero and starts over again.
The man committed suicide within two years of the issuance of the new policy.