Life Insurance and the Suicide Clause

Life Insurance and the Suicide Clause

Will my life insurance not pay out ( under Suicide Exclusion!!!)

Most of us while buying life insurance ask whether there are any exclusions to their policy, or are there any reasons when the insurance company would not pay out the death claim. These questions sometimes turn into doubts and hence might prohibit in taking out insurance.

Hence it is important to know that : The Insurance Act allows a life insurance company to honour a death claim if the life insured commits suicide, but most insurance policies include a suicide exclusion.

Under such a limitation, the insurer will not pay any benefits if the life insured commits suicide within the suicide exclusion period, which is typically the first two years after the policy is issued or reinstated. The onus is on the insurance company to prove that a death resulted from suicide.


Life Insurance policy owners’ right to rescind the policy

Consumers usually have the right to examine or test a product before they make a major purchase. Small purchases usually come with a satisfaction guaranteed or your money refunded policy.


Life insurance Policy Provisions and Limitations

life insurance policy is a legally enforceable contract. It contains promises made by the insurance company about the payment of a death benefit, as well as the contractual obligations between the parties about premium payments, penalties and rights. These promises and contractual obligations are called policy provisions.


Revocable and Irrevocable Beneficiaries to Life Insurance

When a policyowner names a beneficiary to a life insurance policy, by a default, that beneficiary designation is Revocable. This means that the policyowner can name a new beneficiary at any time, without the first beneficiary’s consent.


We at are experts in explaining the the various types of life insurance that could protect the entire family. Please feel free to contact us at or at 1 416 509 2540. Please visit us for a no obligation quote or advice.

Prepared by:  Aman Kapur

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