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Pay out from suicide?
inch_high
Posts: 179 Forumite
I'm looking at taking out a life insurance policy and when I was applying, one of the terms said:
We wont pay out of you take your own life within the first 12 months of the policy.
I thought that no life policies paid out for suicide?
We wont pay out of you take your own life within the first 12 months of the policy.
I thought that no life policies paid out for suicide?
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Comments
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I thought that no life policies paid out for suicide?
No. Thats just a myth. It may have been the case once upon a time but for as long as I have been doing it, 12 months and no history of mental illness has been the norm.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Even those that have exclusion terms, some will pay out upon "successful" suicide despite the exclusion. Much less (if any) ignore their own terms for attempted/ "unsuccessful" suicide.0
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Crikey... Bit of weird one that though isnt it? Someone whose family are struggling financially may see suicide as the option to clear the debts etc...0
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Crikey... Bit of weird one that though isnt it? Someone whose family are struggling financially may see suicide as the option to clear the debts etc...
You are literally the only person in the world thinking this :jHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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It's now classed as a mental illness. Even old policies that have a suicide exclusion can no longer enforce it.Eat vegetables and fear no creditors, rather than eat duck and hide.0
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You are literally the only person in the world thinking this :j
Apart from the estimated 200,000 Indians who commit suicide every year, apparently mostly for financial reasons.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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