If you take an overdose (by mistake) or commit suicide, can your family still claim on your life insurance?

Question

I'm not suicidal by the way I'm writting a film script and need the answer.

Answer 1

Depends on the policy, usually (99%+) no.  If the suicide is undeniably linked to depression or other mental illness, then there MIGHT be a chance, but usually, no.  The reason? Lets say I have only 1000 dollars left in the world and no job, need to feed teh kids! So I take an insurance policy, if I die, my family gets 2 million.  I pay the first month, then I immediately kill myself, Viola, put in $1000 and your life, and your wife and kids never have to worry about money again, people do crazy things for love and money....

Answer 2

It depends entirely on the policy and the laws of your particular state.

I know for a fact that my personal life insurance pays out in full for suicide, but you have a one year waiting period...I always found that an amusing stipulation, but never the less, it is part of the contract.

"We will not pay a claim that arises directly or indirectly from:

Suicide of the Life Insured that occurs within the first 13 months of the commencement of the cover"

Allianz Australia.

Answer 3

Most policies that I have seen have a 2 yr or more waiting period to collect on suicide and some do not pay for this cause of death at all.  It depends on what they have in the policy when you purchases it.   This 2 yr wait is true for several policies for all causes of death but I do think most refund what you  paid in if you die before you've had the insurance long enough.  Some will not pay for conditions they say are preexisting also. You just have to read every thing over very close.

Answer 4

no

Answer 5

I googled it.

You can take out a policy with a suicide provision but if you commit suicide within two years of taking out the policy no payment will be made.

To answer the other part of  your question though accidental overdose is not suicide.

Google this.

Suicide + Insurance. for more in depth results.

Answer 6

for individual policies the standard is a 2 year wait....because nobody that's suicidal is going to take out a policy and have the means to wait 2 years.  Some group policies don't cover it.

Answer 7

it just depends who your with in term of life insurance companies, in the case of suicide you will find that hardly anyone will pay out for that! but if you were to "accidentally" to over dose then it would take probably a lot of investigating by the police and higher up! and could end up putting you family's mental and emotional heath at risk. now y would you wanna do that!?

Answer 8

I live in GA and have been in the life insurance business for over 30 years.  All the individual policies I have seen have a 2 year contestable period, but would pay regardless of how the death occurs after the 2 years.  I also had an employee that committed suicide 3 months after going to work for us and his group insurance paid immediately.  Some group policies do not contain the contestable clause.

Answer 9

Most life insurance states that will not pay in case of suicide.

Answer 10

If it was suicide, it will not pay in first 2 years.  Overdose, if by accident, may or may not be covered depending on the company.

Answer 11

It depends on the policy.

Some have a 2 year clause, with no payment for suicide for 2 years after the policy is initiated.

Policies for our brave service men and women in combat areas, may (should) exclude that clause, so that if they were captured, and tortured, suicide would be an option to prevent disclosure of combat information from falling into the hands of the enemy, and their beneficiaries may receive payment.

Answer 12

Not sure these days.  Your policy was void at one time if you committed suicide.

Answer 13

You would need to check the suicide clause on the life policy. Each company is different. Some decline it all together and some require a waiting period of like 2 yrs or so before its covered.  The reason insurance companies do this is so people wont go take out a big policy then kill themselves the next day. That would not be a good risk financially for the insurance company.

Answer 14

I think you'll find most insurance policies have  a clause written in the small print stating that suicide voids the policy.

Answer 15

Most policies no longer contain suicide clauses. (UK) Insurers rely on the well founded legal principle that it is unlawful to take out a life insurance with the intent to commit suicide. This invalidates the contract so no payout.

If, however, a "reasonable" amount of time elapses or there are other factors that make it difficult to show suicidal intention then they will pay ... no suicide clause, see.

This set of circumstances is particularly valid when they apply to accidental overdoses (especially drugs) where one could argue that (technically) one had caused ones own death and try to rely on the suicide clause. Since there is none, insurers cannot avoid the claim. Saves all the hassle. Good for the industry, good for the public.

xxFJ

Answer 16

Sure your family can make a claim but remember the insurance companies make money by not paying claims. So take a guess what they will say when you want Johnny's life insurance after he croaks from an overdose.

Answer 17

I am not able to totally make sure my answer is fit for your situation.It could be useful anyway,it would better you check out yourself here.

http://insurance.online-assistant.info/i...