Mortgage Life Insurance following Suicide

[mullaghabu]

Mortgage Insurance Life cover current & in existance for 4 years prior to recent suicide. Will Insurance company honour the cover. Tks.

 

[PM1234]

Due to the policy being four years old, it won't necessarily not pay out. You will need to check the T&Cs of the specific policy.

If you don't have these, you could contact the life assurance company and request a copy.

 

[LDFerguson]

I've never seen an exclusion for suicide that lasted for longer than two years after the start date of the policy, so I'd say it's fine, but as PM says, read the policy conditions.

 

[WaterSprite]

Echo the sentiments above - I reviewed my parents' policies recently for general purposes and the suicide exception ran for either one year or two years (different for different policies but no longer than 2 years) from date of taking out the policy. The policy doc will state specifically.

Sprite

 

[Ravima]

Even in these tragic circumstances, some insurers will pay out under the policy to the extent that the policy has been pledged to a bank/lender, but only up to the amount of the loan if lower than the sum insured.

 

[rmelly]

I've never seen an exclusion for suicide that lasted for longer than two years after the start date of the policy, so I'd say it's fine, but as PM says, read the policy conditions.

The T & C's from my policy (Irish Life) doesn't have a time period and appears to rule out paying out at all for 'self inflicted accidental death'. Would this be the case?

 

[bond-007]

The definition of same would be debatable to say the least.

I would assume that the coroners verdict would be what would be law? I have come across what were apparent suicides (self inflicted injuries) that were ruled as accidental death at a coroners court

 

[LDFerguson]

The T & C's from my policy (Irish Life) doesn't have a time period and appears to rule out paying out at all for 'self inflicted accidental death'. Would this be the case?

Surely self inflicted accidental death is a different matter to suicide, which could not be deemed accidental? Self inflicted accidental death sounds like a contradiction to me.

 

[rmelly]

Surely self inflicted accidental death is a different matter to suicide, which could not be deemed accidental? Self inflicted accidental death sounds like a contradiction to me.

Was thinking the same but there is no reference at all to suicide - I'll see if I can find the EXACT phrase - this was a shortening of whats there.

 

[mullaghabu]

Many thanks to all. Found policy document and exclusion was for 1 year. Also spoke to Coroner who said that suicide would never be specified on this particular coroner's report as they would have no definitive knowledge of the exact circumstance at time of death regardless of evidence at the scene.

 

[JoeB]

I agree that 'self inflicted accident' doesn't make sense. It's a contradiction in terms.

Mullaghabu makes an interesting point. If suicide is never given as the cause of death then this is a moot point it would seem.