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Would the insurer pay the beneficiaries? Or does suicide void the life insurance contract?

Jan. 24, 2007

Life Insurance & Annuities Forum

Question:
If a person with a life insurance policy pays premiums on the policy for one year, and then commits suicide, would the insurer pay the beneficiaries? Or does suicide void the life insurance contract?

Carlos, Ohio

Answer:
Most life insurance policies have a "suicide clause" stating that the policy will not pay if the policyholder commits suicide within two years of buying the policy. This is to discourage people from buying a life insurance policy with suicide in mind. Each life insurance policy provides specific details about its suicide clause.

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Disclaimer: We are journalists, not financial planners or insurance brokers. Nothing we say should be interpreted as a recommendation to buy or sell any insurance product, or to provide other financial or legal advice.

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