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Suicide Life Insurance Benefits? - Life Insurance Discussion
Blog Post Date: Nov 23 2007Suicide Life Insurance Benefits? - Life Insurance Discussion
As I was was researching this article, I went on to google groups and looked for what people were saying about suicide and life insurance.
The holiday season has a reputation for having high suicide rates.
These google discussion group topics were a few years old, however they're still relevant and horrifying. It still shocks me that people openly talk about committing suicide in an open forum. ( I hope that google is some how monitoring these discussions )
In one post, the guy or girl is asking for advice on how to kill themself, and then how to make the death look ok for the life insurance company. Honestly, these people need serious help.
QUESTION: Can you purchase life insurance and then immediately commit suicide ?
The answer to this suicide question is:
Most policies require you to wait at least 2 years before you kill yourself. This is according to Erik Haynes of Conservest Inc in Toronto, Canada. According to Erik "You can't buy a policy today, kill yourself tomorrow and have your beneficiaries reap the cash benefits of your death". My thoughts are, hopefully a 2 year waiting period would allow you to get some psychiatric help and get better mentally!!
The other point is this: how would the beneficiaries of this "suicide money" feel? Even though they receive $250,000 or $500,000 cash benefits, this money would be pretty sour for them to spend knowing you killed yourself so they could get it!
It's always best to read your life insurance policy and check with your lnsurance agent so that you'll know what you agreed to.
I'm pretty floored that people talk about suicide so openly on the internet. While it may seem anonymous, the police should be monitoring those types of posts and giving people help.
BTW... I checked the person who posted the above and they stopped posting a week after these initial posts. That's pretty scary!
MY STRONG RECOMMENDATION: Get some help! Don't kill yourself to obtain a life insurance benefit!
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