Oh? I thought suicide is an automatic exclusion clause... Especially here in sinkapore
From Forbes magazine website:
Does Life Insurance Cover Suicide?
Lucy Lazarony, Amy Danise
Editor, Editor
Updated: Mar 26, 2022, 5:49pm
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Life insurance companies need to protect themselves from the possibility that someone could buy a policy with the intention of committing suicide shortly after so that their families receive a life insurance payment.
Suicide is not generally covered in the first two years of a life insurance policy but it is covered after that. This two-year period is known as a suicide clause.
If a suicide happens more than two years after getting a
life insurance policy, the life insurance policy will pay out death benefit to the policy’s beneficiaries.
While beneficiaries are not entitled to death benefits if a suicide occurs during a policy’s first two years, they may receive a refund of the premiums that were paid into the policy before the death.
The exclusion for suicides includes instances of doctor-assisted suicide. Five states allow assisted suicide: California, Colorado, Oregon, Washington and Vermont.
If you’re the beneficiary of the life insurance policy you’ll need to know the name of the insurer that holds the policy and a certified copy of the death certificate in order to make a claim.
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