Death In Service Payment - Very Naive Question

Weighty1

MalMonroe said:

Saga said:

tacpot12 said:

Any death in service benefit should always been seen as a bonus. Anyone with dependents to protect needs to have their own life insurance that will always payout regardless of whether they are working or not. 

I didn't think they paid out in the case of suicide?

Doesn't that depend on the terms and conditions of any policy?

Seems a bit old-fashioned and discriminatory to me.

They do anyway.  Death due to mental health issues are NOT excluded, just like death due to cancer or heart disease aren't.  It's a long held phallacy that life insurance plans don't cover suicide.

kingstreet

Some life cover might exclude suicide for a year, maybe two, but not for the entire term.

IIRC there are providers who have no suicide exclusion period at all.

csgohan4

kingstreet said:

Some life cover might exclude suicide for a year, maybe two, but not for the entire term.

IIRC there are providers who have no suicide exclusion period at all.

unless there is a history of relevant mental health

Weighty1

csgohan4 said:

kingstreet said:

Some life cover might exclude suicide for a year, maybe two, but not for the entire term.

IIRC there are providers who have no suicide exclusion period at all.

unless there is a history of relevant mental health

Not that I'm aware of.  The suicide exclusion is either present during the first 12-months or isn't.  The medical disclosures don't impact it.

Aretnap

csgohan4 said:

kingstreet said:

Some life cover might exclude suicide for a year, maybe two, but not for the entire term.

IIRC there are providers who have no suicide exclusion period at all.

unless there is a history of relevant mental health

As with any other aspect of medical history, life insurers are more likely to load premiums or to refuse cover outright than they are to attempt to exclude specific causes of death. 

user1977

Weighty1 said:

csgohan4 said:

kingstreet said:

Some life cover might exclude suicide for a year, maybe two, but not for the entire term.

IIRC there are providers who have no suicide exclusion period at all.

unless there is a history of relevant mental health

Not that I'm aware of.  The suicide exclusion is either present during the first 12-months or isn't.  The medical disclosures don't impact it.

Is it relevant to death in service benefits anyway? I wouldn't have thought there's a great risk of the suicidal deliberately trying to get a job with the benefit.