does life insurance cover natural death Does life insurance cover suicide?

Life insurance is an important financial tool for protecting families when tragedy strikes. But there are certain circumstances when life insurance companies may not pay out. Suicide is one of these and can be a tricky situation to navigate.

Does Life Insurance Cover Suicide?

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Life insurance policies will not cover a suicide, meaning no death benefit would be collected in the event that the policyholder dies by suicide. However, most states have a two-year suicide provision, meaning if the policyholder dies due to suicide within the first two years of purchasing their policy, the insurance company can deny the claim. This is because there is a heightened risk of suicide during the first two years that insurance companies can protect themselves against.

What Does Life Insurance Cover?

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Life insurance covers a variety of expenses, including medical bills such as hospital stays, long-term care and treatments, and funeral costs. It can also provide a lump sum that can be used for expenses such as rent or mortgage payments, debt payments, daily living expenses or college tuition. Life insurance can also be used to help family members make up for the lost income of a deceased family member, ensuring financial stability in a difficult time.

While life insurance policies do not cover suicides, they do provide financial freedom and security in the event of more common tragic events such as car accidents, natural disasters, or illnesses. Investing in a good life insurance policy is a proactive and prudent step to ensure your family’s financial well-being in the event of an unfortunate situation.

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