Life Insurance & Suicide

A good friend of mine asked me a question yesterday. Her husband has been ill, and has been very depressed. They do have some kind of "life insurance," though I'm not sure exactly what it is. She is beginning to fear that if her husband's illness worsens that he might think of taking his own life.

 

Naturally, she is very worried. She is also concerned that if that were to happen that his life insurance policy becomes "null and void". I told her that every policy is different, and she should check with her agent. But generally, does a standard life policy cover suicide as far as a death benefit?

 

Answer:

In many cases, life insurance will become null and void in the case of a suicide. However, it does depend on the policy, as you have correctly pointed out. If the couple has "whole life" insurance, there may be a reduced benefit, but still some benefit to the bereaved spouse. Your friend should check the fine print on the life insurance that they do have.

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