What kind death will be coverd by life insurence?

Question

will the term life insurence company pay the death of accident and suicide.

Answer 1

You need to read your policy. Usually, the policy will not pay for suicide in the first two years. After the contestable period is over, it should pay for any reason, unless specifically excluded from the policy. ( An example of this may be skydiving, piloting a plane, or having a hobby that you disclosed, that is excluded by the company in writing). Accidents are covered by life insurance. The whole purpose of life insurance is to pay when someone dies from an accident or illness.

Answer 2

usually suicide is excluded. all policies are different you need to find this out before you buy the policy. some policy's you must have a year or two before they will pay and some will not pay after 10 years. shop around to different companies.

Answer 3

Usually suicide is excluded. In some part of world insurance companies are also offering insurance for suicide reasons. But this is generally excluded.

http://www.rghins.com/

Answer 4

Most life insurance policies have a two-year contestable period from the date of issue, depending on the state insurance laws.

The contestable period provides protection for the insurance company from paying claims that should not ahve been paid. If an insured misrepresented his/her health situation on the application for insurance, the insurance company can reject a claim in that two-year period, or provide the amount of coverage that a rated premium would have bought in the first place, if the correct info had been listed.

There is also a two-year suicide clause. If an insured commits suicide during the first two policy years, the company will refund the paid premiums to the beneficiary. The policy will pay for suicide if it should occur after the two-year suicide clause.

If the contestable period or suicide clause is not imposed, the policy will pay for death, or accidental death in the first two years and after.

If the policy has the Accidental Death Benefit, the beneficiary will receive the face amount of the policy, plus the accidental benefit (usually the same as the face amount), if the insured gets accidentally killed.

Answer 5

Assuming we're talking about an indiviudal plan and not a group plan 'usually' suicide IS covered, but it's not 'til after the policy is in force for two years....simply because they don't want suicidal people making claims on policies.

Other than that, assuming you didn't lie on the application, everything else is covered.

http://insurancepickle.com/life-insuranc...