Life Insurance Allentown Pennsylvania PA
Reader’s Question:
I am from Allentown, PA and I have a very good question that you can answer. I’m just wondering what would happen to those people who made their death. Would one enjoy his life insurance benefits if he did not accidentally die but killed himself instead?
Clint
Allentown, PA
Hello. Good thinking right there, Clint. That’s a very witty question but well, I’m sure you don’t have plan of doing it, huh? I really hope not for someone with a very good thinking.
Actually, you really have to go over the policy before you sign it. It says there in a clause form that the company will NOT pay if the insured commit a suicide within two years of getting the policy.
Your life insurance is usually regulated by Pennsylvania state laws and not the federal government. It is contrary to the public interest to encourage suicide by making insurance proceeds available to those people who wanted to escape from their debts and see no way out but death. Therefore, insurance companies in Allentown, PA usually prohibit claims when suicide is the cause of death. The contract is considered void and they refund the premiums to the insured, instead.
Most of the time, private insurance policies have a two year suicide exclusion period. The insured stated a clause in the policy within the first two years of issue. After that, the policy must pay the benefit regardless of how the insured died.
But then again, it truly depends on the various states that regulate the insurance company.
Tags: life insurance, life insurance policy, life insurance disclaimer
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