Life Insurance: Is Suicide Covered?
Jun 26, 2013
Jamie Fleischner

Jamie Fleischner

26 Jun, 2013

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Most people assume that suicide would not be covered by life insurance. However, suicide is in fact covered and the claim would be paid.

The suicide life insurance laws vary from state to state. Here in Colorado, there is a 1 year suicide clause. After the policy is in force for 1 year, suicide is covered. In the state of Missouri, there is not a suicide clause. In some states, there is a 2 year suicide clause.

The suicide clause is different from the 2 year period of incontestability. This states that if you knowingly and purposefully omitted important information on an insurance application that would have been excluded or caused a declination, the company can rescind the contract within 2 years. For example, if you apply for a life insurance policy while seeing an oncologist and being treated for cancer, and purposefully do not disclose this information, this would not be covered if you have a claim within 2 years.

If you have a history of suicide, chances are it will be difficult to acquire a life insurance policy.

For more information about life insurance and suicide or to request a quote comparison, contact Set for Life Insurance today!

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