Question about life insurance involving suicide?

saltyreefersaltyreefer Posts: 122 Deckhand
My childs father passed away, how can you find out who his policy holder of life insurance is? strained relationship with family and called employer and would not give out the information.

Replies

  • badbullgatorbadbullgator Posts: 1,568 Officer
    Most life insurance doesn't pay if the person killed themselves.
    "No free man shall ever be debarred the use of arms. The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government"

    -- Thomas Jefferson, 1 Thomas Jefferson Papers, 334
  • GJBenn85GJBenn85 Posts: 1,364 Officer
    Most life insurance doesn't pay if the person killed themselves.

    Not true but there are almost always contestibility periods. They don't want people taking out life insurance only to kill themselves and then expect payouts to beneficiaries. Most I have seen have two year contestibility periods for suicide, but you can also fight it if it can be proven intent of suicide did not exist when the policy was taken out.
  • badbullgatorbadbullgator Posts: 1,568 Officer
    See that is why you shouldn't listen to people on the interweb. Half of them are wrong.
    "No free man shall ever be debarred the use of arms. The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government"

    -- Thomas Jefferson, 1 Thomas Jefferson Papers, 334
  • wizfisherwizfisher Posts: 2,387 Officer
    No idea about how the insurance stuff works.

    Sory for your child and the loss of their father.
  • Larry MacLarry Mac Posts: 5,444 Admiral
    I know a friend who's wife committed suicide and he still received life insurance because of the mental illness leading to or being a big cause of the suicide.
  • DesperadoDesperado Posts: 147 Officer
    Suicide exclusion drops off after two years (end of the contestability period). At least in Florida. Check bank statements for premium payments.
    G/B/A
  • SAENoleSAENole Posts: 9,507 Admiral
    2 years is correct.
    I may be entitled to compensation.
  • AC ManAC Man Posts: 3,375 Captain
    Sad story, and sad you can't get the info you need. However, is this true that if you off yourself say 10 years after you take out a life insurance policy it is without a doubt paid???
  • HuntressJaxHuntressJax Posts: 696 Officer
    Desperado wrote: »
    Suicide exclusion drops off after two years (end of the contestability period). At least in Florida. Check bank statements for premium payments.

    This is correct and a good idea to check bank statements. Was there a will? Would be identified there unless it was provided by employer, then maybe not. Check with a life agent to see what fiduciary responsibility a carrier would have, or an attorney. I am having dinner tomorrow with an insurance defense attorney and will ask him and then I will send you a pm.
  • HuntressJaxHuntressJax Posts: 696 Officer
    AC Man wrote: »
    Sad story, and sad you can't get the info you need. However, is this true that if you off yourself say 10 years after you take out a life insurance policy it is without a doubt paid???

    Policy premiums can be as long as 30 years plus.
  • DesperadoDesperado Posts: 147 Officer
    AC Man wrote: »
    Sad story, and sad you can't get the info you need. However, is this true that if you off yourself say 10 years after you take out a life insurance policy it is without a doubt paid???

    Yes, it's statutory in Florida.
    G/B/A

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