From my understanding, most life insurance policies DO cover suicide ONLY AFTER TWO years have passed. I took out this policy about a year ago because I want to prevent a financial hardship to my mother and brother (who financially depend on me).
Would someone please confirm how else I can protect my family financially and also to prevent the insurance company from refusing payment. For obvious reasons I cannot call them with such question.
Need advise. Thanks
2 comments
It can be difficult for them to confirm a suicide without a note especially if the method isn’t obvious like hanging or shotgun to the head, even heroin od if they think you were a drug addict it would look accidental. Or you could always write a note and in the note tell them not to mention there was a note.
I did some research a while ago and this is what I found:
– Usually they cover it after two years;
– Some policies don’t cover it at all, you must read carefully;
– If you miss or delay a payment they restart the two years counting from that point.