Sentences with phrase «event of suicide»

For example, in the first year or in the event of suicide.

In most states, in the event of suicide during the first two policy years, death benefits are limited only to the return of premiums paid.

The insurance company may or may not pay the beneficiary of a life insurance policy in the event of a suicide depending on the circumstances, the primary factor being the existence of two clauses found in a life insurance policy: The Suicide Provision and the Incontestability Clause.

If you or someone you know is suffering from depression, or mental illness, or just having a hard time, the most important thing you can do is get help for yourself and them so that you never have to worry about your life insurance policy and if it will pay out in the event of a suicide.

Policy is limited to return of premium paid in the event of suicide within first two years.

Also during the first two years of your policy the insurance company will not pay the death benefit in the event of a suicide.

Question — Will death benefits still be paid out in the event of a suicide?

Your policy provisions for payout in the event of suicide.

In the event of suicide committed by the insured within the first 12 months of the inception of the policy, only 80 % of the total premiums paid are refunded to the nominee.

It is also common for a life insurance policy to have a clause stating that it will not honor a policy in the event of suicide within the first year or two of holding the policy.

For example, if a person had been diagnosed with depression prior to buying life insurance, the company may have charged a premium for death in the event of suicide.

None of this means that insurance companies will not pay death benefits in the event of suicide.

If it doesn't, then the claim would be paid even in the event of suicide.

While this is a subject that is sensitive, life insurance does pay in the event of suicide as long as it has been in force more than two years, longer than the incontestability period.