Definitions for "Suicide Clause"
Related Terms:
Term life insurance, Term insurance, Life insurance, Endowment insurance, Term life, Whole of life insurance, Renewable term life insurance, Lapse, Paid-up policy, Incontestable clause, Reinstatement provision, Guaranteed renewable, Cancelable, Individual life insurance, Whole life, Guaranteed insurability rider, Guaranteed renewable policy, Family income policy, Policy lapse, Nonparticipating policy, Burial insurance, Whole life policy, Non-cancellable, Face amount, Riders, Life settlement, Surrender, Incontestability, Convertible term insurance, Ordinary life insurance, Single premium policy, Accelerated death benefit, Whole life insurance, Waiver of premium provision, Living benefits, Paid-up insurance, Cancellable policy, Viatical settlement, Common disaster clause, Life insurance policy, Policy holder, Living benefits rider, Accidental death and dismemberment rider, Insurance coverage, Lapsed policy, Guaranteed insurability, Accidental death benefit rider, Free look provision, Pro rata cancellation, Cancellation
A standard policy provision in most states stating that, if the insured dies by suicide within a specified period of time (generally two years), the insurance company's liability will be limited to a return of premiums paid. The purpose of this provision is to discourage individuals from purchasing life insurance with the intent of taking their own lives.
Limitation in life insurance policies to the effect that no death benefits will be paid if the insured commits suicide during a specified initial period, usually the first two years that the policy is in force.
The insurance company will not pay the benefits under the policy if the insured person commits suicide or dies due to attempted suicide within a certain period from the date of the issue of the policy document.
Generally, a suicide clause in a regular life insurance policy provides for voiding the contract of insurance if the life insured commits suicide within two years of the date of issue of the coverage.
A policy provision stating that if the insured dies by suicide within two years of the date of issue, the amount payable will be limited to the total premiums paid, less any policy debt. The full benefit would be paid if suicides occurs after the second policy year. Most companies have a two year suicide clause, except where state law mandates otherwise.
A life insurance provision that limits the insurer's liability to a return of the premiums paid if the insured dies by suicide during the first two certificate years, or one year in a small number of states.
A provision specifying that in the event the insured commits suicide within two years from the date the policy was issued, the insurance company's liability is limited to payment of a single sum equal to the premium(s) paid less any dividends paid and any indebtedness to the Company.
Policy language that says if the insured commits suicide within a specified period, usually two years after the issue date, the company's liability will be limited to a return of premiums paid. Back to the Top T - Z
Contractual provision in a life insurance policy stating that if the insured commits suicide within two years after the policy is issued, the face amount of insurance will not be paid; only premiums paid will be refunded.
A provision in a life insurance policy that specifies that if the insured takes his or her own life within a specified period (usually two years) benefits will not be paid. Once the time period has passed, a suicide death is paid the same as death from natural causes.
Usually, Life Insurance policies state that benefits are limited or voided if the insured commits suicide. Some policies allow for a return of premiums that have been paid.
Most policies provide that if the insured commits suicide within a specified period, usually two years, after date of issue, the company's liability will be limited to a return of the premiums paid. This is also called a suicide exclusion provision.
excludes death benefits for suicide within the first two years that a policy is in force
Most life insurance policies provide that if the insured commits suicide within a specified period, usually two years, after the issue date, the company's liability will be limited to a return of premiums paid.
A condition in the insurance policy that denies coverage (usually in the first two years) if the insured commits suicide.
If you commit suicide after being insured for less than two years (in most states) your beneficiaries will receive only a refund of the premiums that were paid.
A limitation in a life insurance policy that states that if an insured commits suicide during the initial term of the policy (usually two years), that no death benefits will be paid by the insurance company.
A policy provision usually stating that if the insured dies by suicide within two years of the date of issue, the amount payable would be limited to the total premiums paid, less any policy debt. The full benefit would only be paid if the suicide occurs after the first two policy years.
A provision that precludes the payment of life insurance death benefits for a specified period of one or two years after which suicide is paid the same as death from natural causes.
Life insurance policy wording which specifies that the proceeds of the policy will not be paid if the insured takes his or her own life within a specified period of time (usually two years) after the policy's date of issue.
A provision in a life insurance policy that states that the policy will not provide benefits if the insured dies from suicide during a specified period of time, usually the first two years of the policy.
A clause in the life insurance policy which specifies that the policy amount will not be paid if the insured takes his or her own life within a specified period of time (usually two years) after the policy is issued.
A policy provision which reduces or eliminates the amount to be paid if the insured dies from suicide within a specified time frame.
Provision in a life insurance policy that specifies that no death benefits will be paid if the insured commits suicide within a certain period after purchasing the policy (usually two years).
A life insurance policy provision that specifies that if the insured, whether sane or insane, commits suicide during the first one or 2 years of the policy, the insurer will be liable only for a return of the premium.
A provision that reduces payouts in the event of suicide within the first two years of the policy.
a clause found in most policies stating that benefits will not be paid if death is due to suicide within the first two years of any contract.
A clause in a life policy whereby the assurers may refuse to meet a claim by the estate of the life assured arising out of his death by his own hand within a specified period after effecting the insurance.
A clause stating that if an insured commits suicide within two years (usually) after the policy issue date, the insurance company is only liable to repay paid premiums up to that date. Back to the top of the page
A policy provision which reduces or eliminates the amount to be paid if the insured dies of suicide within the first two policy years.