Does a whole life policy pay if suicide

UPDATED: Aug 27, 2016

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Does a whole life policy pay if suicide

North carolina law on mother who commits suicide

Asked on August 27, 2016 under Insurance Law, North Carolina


M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

After the "contestability period" ends (as decsribed below), an insurance company will pay a claim even if suicide was involved and some states have reduced the contestability period down from 2 years to 1. The contestability period is the timeframe in which an insurer can question any answer provided in the application submitted by the insured. The insurer can also create temporary exclusions to be in effect during that period of time, such as suicide. If false information is found during this period or a prohibted act is taken (e.g. suicide), the policy can be revoked, whether or not a claim has been submitted. After that period has ended, the insurance company cannot contest something like a suicide.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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