Does life insurance cover death by suicide?
Does life insurance cover death by suicide? In many cases, yes. However, most life insurance companies will not pay a death benefit if you die by suicide within the first two years of buying a personal policy. Unlike with personal life insurance policies, most of the time group life insurance does pay for death by suicide within the first two years of buying a policy. So your beneficiaries would receive the death benefit regardless of when your death occurred during your coverage period.
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...
Farmers CSR for 4 Years
UPDATED: Jun 1, 2022
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UPDATED: Jun 1, 2022
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Most insurance companies cover death by suicide
- Many life insurance companies have a suicide clause and won’t pay a death benefit to your beneficiaries if you commit suicide within two years of buying a policy
- Group insurance does not normally have a suicide clause and still pays the death benefit if you die by suicide at any point during your coverage period
With life insurance, you can have peace of mind knowing that your beneficiaries will be taken care of financially after you die.
However, many people worry that if they ever die by suicide, their beneficiaries may not receive a payout.
So does life insurance cover death by suicide? And does group life insurance have a suicide clause?
Keep reading to learn everything you need to know about how life insurance companies handle suicidal death.
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Does life insurance pay for suicidal death?
In most cases, insurance companies will pay a death benefit to any beneficiaries you have listed if you die by suicide during your coverage period.
However, most insurance companies have a suicide clause and will only pay the death benefit if your personal insurance policy has been in effect for at least two years.
Will life insurance pay for suicidal death within the first two years of coverage?
If you die by suicide within the first two years of buying a policy, your beneficiaries likely won’t receive a financial payout.
However, your insurance company may give them a refund on the life insurance payments you have made.
Every life insurance company handles suicide clauses differently and some policies don’t have suicide clauses, so you’ll have to check with your insurer to see how the company handles suicidal death.
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Does group life insurance pay for suicidal death?
Term life insurance is the most common type of group life insurance, and it often works differently when it comes to suicidal death.
Typically, if you die by suicide at any point during the term of your policy, including within the first two years of coverage, your beneficiaries will still receive a death benefit.
However, every policy differs, so it’s important to check with your insurance company to see if your group life insurance policy has a suicide clause.
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Leslie Kasperowicz
Farmers CSR for 4 Years
Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...
Farmers CSR for 4 Years
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.