Define: Suicide Clause

A suicide clause is a provision in a life insurance policy that states that if the insured person dies by suicide within a certain period after the policy is issued (usually two years), the insurance company will not pay the death benefit.

Suicide clauses are included in life insurance policies to protect insurance companies from individuals who may purchase a policy with the intention of committing suicide shortly after. It helps prevent fraudulent claims and ensures the stability of the insurance industry.

The suicide clause usually lasts for two years from the date the policy is issued. If the insured person dies by suicide within this period, the insurance company will not pay the death benefit.

If the insured person dies by suicide after the suicide clause period has expired, the life insurance policy will typically pay the death benefit to the designated beneficiaries, just like any other cause of death.

No, the suicide clause is a standard provision in most life insurance policies and cannot be waived or removed. It is a fundamental part of the contract between the insured person and the insurance company.

Yes, the suicide clause applies to all types of life insurance policies, including term life insurance, whole life insurance, and universal life insurance.

If the insured person’s death is initially ruled as an accident or homicide, but it is later determined to be suicide, the suicide clause will still apply. The insurance company will not pay the death benefit if the suicide occurred within the specified period.

Challenging the suicide clause in court is unlikely to be successful, as it is a standard provision in life insurance policies. However, consulting with an attorney experienced in insurance law can provide guidance based on the specific circumstances.

In some jurisdictions, there may be exceptions to the suicide clause if the insured person can prove that they were not of sound mind or had a mental illness at the time of the suicide. However, these exceptions vary by jurisdiction and require substantial evidence.

The suicide clause cannot be extended or modified by the insured person after the policy is issued. Any changes to the suicide clause would require the agreement of both parties involved, the insured person and the insurance company.