Does Life Insurance Cover Suicidal Death?

Definitely one of the more frequently asked life insurance questions. Do policies cover suicidal death? The simple answer is yes. But, this coverage is not without conditions. Suicide is a very sensitive subject and a tragic event. We’re not going to elaborate on the morality of such an occurrence. We will look at the legal aspect. A life insurance policy should under no circumstances be considered a solution to financial problems.

Before You Get Coverage

Life insurance is primarily a tool that helps you protect your loved ones and assets you leave behind should you pass away. Besides the death benefit, it can also be a long term investment tool. Therefore, before you get any coverage, first look at your financial situation. We already wrote about various forms of analysis on our site. Then, take a look at how much money you have available for a policy.

The Suicide Clause

Life insurance companies have been around for a long time. They’ve experienced it all. If you find yourself in a tight financial situation, then forget about solving it instantly through a life policy. Most insurers put in their policies a two year suicide clause. This means that once you get your coverage, your suicide is not included for the first two years. Following the expiration of this period, your policy does cover suicidal death. There are always ways to work through an immediate shortage of funds. And if you start building your reserve funds properly, then such extreme measures won’t even come to mind.

Getting Out of a Tight Spot

Financially motivated suicide is not a rare occurrence. However, there is always a better solution. If you find yourself in a tight financial situation and don’t see a way out then rule number one us not to be afraid to ask for help. Don’t feel like you have to tackle this issue alone. There are plenty of financial experts ready to help you. And many like us won’t charge you a penny. We may not be able to give you the 100% proper solution for you, but definitely can provide you with many options and points of view. Most of which, you are probably not aware of. A simple, strings free discussion will give you a different perspective. So, don’t be afraid to ask for help!

Feel free to contact us and we’ll gladly sit down with you and provide you with our insights on financial crisis management. Something that is definitely a current topic for many people. You can start a conversation with us by filling out this free quote form on our site.

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