Life Insurance and Suicide Coverage

When dealing with life insurance, suicide can be a dicey issue. Many people are not educated as to what life insurance companies think about suicide. Here are the basics when dealing with life insurance and suicide.

Waiting Period

Most major life insurance companies have a waiting period for suicide coverage to begin after you take out a policy. The general standard is two years from the time that the policy is taken out. They do this to discourage people from buying a life insurance policy with the thought of committing suicide quickly. Most of the time, no one that is considering suicide is rational enough to plan it out two years in advance. If they cannot handle life anymore, they will do it quicker than two years.


The only known exception to this rule is with employer-provided life insurance plans. These are provided for free to the employee as an incentive to work there. Therefore, they sometimes do not have any typical restrictions on them.

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