I found something were I express myself and it’s kinda a relief. I’ve never really wanted to start this journey, but I’m now researching to see what’s easiest for me and my family. I’ve looked up for insurance laws in Missouri, and I’m wanting to check to make sure that my children and mother will be alright. I’m done with trying to raise my children alone. It’s so hard to teach them the right way to live their lives. I pray that their fathers can do better,  if I’m gone. Please pray that my mother can start over and not be so dependent on me. I’ve tried for 12 years to love a man that I never should have fallen in love with in the first place. I tried oh so hard and I can’t do it anymore. I’m fragile and weak and if I was sure of a way to do this and my family would be taken care of I would do it. God forgive me.  I’m hurting and I don’t know of any other way out. I used to think that people who commit suicide were selfish, but now I understand. I only care about my girls and I don’t want them to suffer because of my giving up. They didn’t ask to be raised in a single parent home. I brought them into this world and I just want them to be happy, prosperous and safe. Does anyone know for sure if you raise the amount of your insurance payout, will they not honor it if you commit suicide in the state of Missouri? That’s the only thing I’m concerned about.
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I don’t know what the laws are like in Missouri, but in many places, there is a waiting period on life insurance payouts where suicide is the cause of death. This can be up to 2 years from the date the policy was taken out. In other words, if you have an existing policy that you wish to increase, and then you take your own life within 2 years of increasing the insured amount, then the increased amount will not be paid. At best, your estate will receive the original insured amount. At worst, the insurer may not pay out at all. It looks VERY suspicious when someone increases their policy and then dies shortly afterwards.
I have 3 insurance policies, although I suspect that only 1 of the 3 will actually pay out. One of them I haven’t held for long enough, and the excludes ‘deliberate acts’ … which, I assume, may include suicide. The one that will most likely pay out is the one where the only suicide exclusion relates to how long the policy has been held. This policy has been held since 2005, so it should pay out my estate without any issues.
So, if you MUST increase your life insurance, be prepared to wait at least 2 years before you check out.
All the best.