Anyone have a lead on life insurance that doesn’t disappear in the event of suicide? I’ve been out of work for months, and while we still have a pretty decent nest egg, I’d like to have all of my options on the table to support my family.
Anyone have a lead on life insurance that doesn’t disappear in the event of suicide? I’ve been out of work for months, and while we still have a pretty decent nest egg, I’d like to have all of my options on the table to support my family.
Nope, just checked, every single life insurance policy cancels out in case of suicide. So you might as well erase that as an option now, try your best to forget about that thought completely, and try to stay positive about that fact because the silver lining is that your family would be happier with you around than money anyway. Speaking from experience.
I wonder if that will ever change with the right to die movement? I could see a way it could work - euthanasia for selected new conditions only. You can’t get motor neurone disease, then take out life insurance and die by assisted suicide just to collect the insurance payout. But if you’ve have the policy for 10 years and then develop a horrific illness and chose to end your life on your terms, then fair enough?
Sort of related, do insurance companies pay out if the death is your fault, but not suicide? Drink driving for example - if you break the law and endanger everyone around you by driving drunk, is that so different from ending your life due to depression?