You may have wondered at one point what would happen to a life insurance policy if the cause of death is suicide. Well in almost every single policy there is an exclusion that states the policy will not be paid out if suicide is committed in the first two years. There are however still some things about suicide that may cause you to become a higher risk customer, but there is nothing the insurance company can do in most cases. A life insurance company cannot cancel your policy if you have admitted thoughts of suicide, or even attempted it.

There is one way that an existing policy can be canceled, and that is when a life insurance company can find evidence that the person was suicidal before the policy was taken out. For example say that someone was receiving psychiatric care for attempted suicide, and then they went and took out a life insurance policy. Normally a person that admits to attempting suicide will be denied coverage from the beginning. So when you apply for life insurance having the psychiatric care for suicide, the only way you could be covered would be to lie on your application, and when the insurance company finds out, they have the right to cancel your policy. This is because your lie made the insurance company unaware of something that greatly affects your coverage.

Suicide can be a hard thing to talk about, because no one wants to think about losing a loved one to suicide. However, it is part of your life insurance policy, and it is important to understand what would happen to your policy if it did occur. In almost all cases, a suicide will not be covered by a life insurance policy in the first two years. The main reason, is because if someone is contemplating suicide, they will be less likely to take out a policy and wait two years. If they did take out a policy and wait two years, then the chances of them still wanting to commit suicide just for life insurance benefits are slim. So in that type of policy, suicide is covered, but only after the policy has been active for two years.

If there is an attempted suicide, the most relevant insurance may not be life insurance. A lot of times someone that attempts suicide will have severe mental problems, and they will probably need health insurance more, to meet with doctors. It is just not worth it in the end, so many times people commit suicide to financially help their family, but the family is devastated when they lose a loved one and then find out the cause of death will not be covered with that type of life insurance.