Life insurance policies don’t pay in cases of suicide, so to state that as a motive in a suicide note is bizarre to say the least.
Not so......They don’t pay for the first two years of the policy.
Not true. Some policies don't, but other do, if the insured has paid for the policy for some minimum number of years (usually 2-3). Just had this discussion on another thread.
“... Life insurance policies don’t pay in cases of suicide ...”
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The last time I looked at the fine print
there was a 1 year policy exemption
to not pay out in the event of death by suicide.
Other policy fine print may vary.
Yes they do if you have had them over 2 years.
My policy says I am entitled to kill myself and get full payout.
“Life insurance policies don’t pay in cases of suicide, so to state that as a motive in a suicide note is bizarre to say the least.”
Exactly. This was a sophisticated businessman. He would have known that.
The Hillary hack who put the bag over his head probably didn’t know about the “no payout in case of suicide.”
Actually most do. Mine do, and I do not intend to off myself. There is always a stipulation on the time from which an policy is issued until a suicide would be covered under the policy. Most are several years. The cost of policies go up with age. If his policy was expiring it could be renewed at a higher premium. If this man was financially able, I suspect he was, he would have just renewed his policy at the higher premium rate.
Case in point, I am a pilot. I pay higher premiums. I have had this insurance for years. If I decided to off myself tomorrow the polices would be paid in full. This whole damn thing stinks.
I must note that Helium is a most effective way to commit suicide. Most do not know of this method. I find it odd he chose this method. Freon is much cheaper and more available. It is also a narcotic gas and you just go to sleep and then go into a fatal cardiac arrhythmia. Helium is a most odd choice. Also carbon monoxide from a car in a closed garage is equally painless and very effective. Why helium? This is most strange.
They might, but there is usually a "suicide clause" (waiting period).
Depends on the policy - suicide/hidden existing fatal illness are reasons most policies have a waiting period before they pay off.