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Can Life Insurance refuse payment after the 2 years suicide clause expires?

Can Life Insurance refuse payment after the 2 years suicide clause expires? Contrary to public belief, I've found that the laws of most states and the policies of most life insurance companies only exclude suicide benefits for a 2 year period. If hypothetically a customer was to purchase a policy with the expressed purpose of committing suicide in 2 years, could the insurance company refuse to pay? This is for my actuary paper, not a personal question!

Public Comments

1. A few states have a three year contestable period. The insurance company can't refuse to pay after the contestable period, HOWEVER, if the insured is murdered, and the beneficiary is the murderer, the murderer CANNOT collect - so a judge would likely assign the payout elsewhere - like to minor children or other relatives.
2. They cannot refuse to pay. If the insurance contract says "2-years" and the insured commits suicide after 2 years and a day, the policy must pay. The insurance company is betting on the fact that if the insured is suicidal at time of purchase, the feelings will subside or the insured will be dead within the first two years. There is no clause that says if they intended to commit suicide at the time of purchase, the insurance company doesn't have to pay out. How could they prove intent?
3. Three things: 1. A company may not extend the contestability clause beyond the state maximum. They may make is shorter. 2. An underwriter would not issue a policy to someone who has the "expressed purpose of committing suicide". This presents a clear mortality risk. 3. I'm not sure the public is really well served by clarifying issues regarding suicide and life insurance. The prevailing confusion may have helped save the life of some individuals, and the beneficiaries will find out the true answer during the claims process. Best, Aaron
4. Does the policy specifically state a 2 year exclusion. If so, then no. An insurance company can't read a persons mind when they are signing the policy. And then say 2 years later we won't pay. And I'm glad its for an actuary paper and not a personal question!
5. acording to this http://www.simplyinsurancequotes.com/Life-Insurance-Explained.php they pay up in 99% of cases.
6. life insurance can always be denied if cause of death is suicide. this prevents people from getting life insurance for their family and then killing themsleves