TodayDo life insurance rules that deny payment after suicide discriminate against those with mental health issues? If those rules didn't exist would suicide rate increase?
A life insurance policy doesn’t have to pay out if you take out the policy AND commit suicide in a short period of time. If it’s after that period of time the policy MUST pay out. That is law. Former life insurance salesman here.
So since it is a relatively short period of time, it’s say it shouldn’t have any real change in suicide rates
I didn’t realize there was a time limit on the non-payout. That’s good to know. Friend of a friend just took his life and I’ve been worried about the kids. Hopefully they will be taken care of.
Typically the limit is 2 years.