1. 5082 POINTS
    J Paul Wilson CFP, CHFCPRO
    Certified Financial Planner, JPW Insurance Retirement Investments, Halifax, Nova Scotia, Canada
    In Canada, after the policy has been in force for 2 years Individual Life Insurance including Term will pay for any type of death. During the first two years the life insurance policy will not pay for death by suicide.

    An independent life insurance broker can help you find a policy that is right for you.

    If you have any further questions, please do not hesitate to contact me.
    Answered on January 30, 2015
  2. 11498 POINTS
    Jason GoldenzweigPRO
    Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
    Traditional term life insurance covers deaths that occur by both illness and injury.

    If you have a Accidental Death and Dismemberment (AD&D) life insurance policy, then the death benefit will only pay proceeds if death occurs under accidental means (e.g. a car accident). If you die by illness (e.g. heart attack, cancer, etc.) and are only covered by an AD&D life insurance policy, then no proceeds will be paid out.

    Please note, during the first 2 years of any life insurance policy, there is what's called a "contestability period" in which if death occurs by suicide or it's discovered upon review that the applicant intentionally lied on an application (committing fraud), then the carrier can refuse to pay out a claim. After the 2 year contestability period has expired, then the carrier cannot challenge these types of issues upon a claim. The reason for the contestability period is 2 years is deemed a fair amount of time for someone who thinks about committing suicide would have gotten help and tried to move past it by that point and carriers would have had enough time to find issues with a policy if fraud was present.

    If you're looking for life insurance, I would suggest consulting with an experienced and knowledgeable independent insurance broker who can discuss your needs of coverage and what goals you want to have met with it while also comparing multiple insurance companies to secure the coverage at the lowest possible cost.

    I hope the information is helpful - please feel free to contact me for help with your coverage and if you have any other questions. Thanks very much.
    Answered on January 30, 2015
  3. 63333 POINTS
    Peggy Mace, Certified Senior Advisor (CSA)®PRO
    CEO, Outlook Life, Inc, Most of the U.S.
    Term life insurance covers all types of death except suicide in the first two years. This includes death due to accident, illness, accident caused by illness, and old age. After two years, it even covers suicide.

    There may be some exclusions like death caused while committing a felony. And if you are a pilot who did not get a policy that covers flying, your policy will not pay out if you die while piloting a plane. These exclusions will be clearly spelled out in your policy.
    Answered on January 30, 2015
  4. 2777 POINTS
    Terry A. McCarthy, CLU, ChFCPRO
    President, Insurance Associates Agency Inc., West Chester, OH
    After you have passed the "contestable" period of two years' unless otherwise limited, all death is covered. Some avocation may be excluded so without more info this is the best answer possible. Some policies have war clauses for active military and known hazards may be excluded from policy coverage. Check your policy closely or consult your agent or carrier.
    Answered on February 1, 2015
  5. 10968 POINTS
    Tim WilhoitPRO
    Owner, Your Friend 4 Life, Brentwood TN
    Traditional term life insurance has a two year contestability clause but after that even suicide is covered. I will state that several companies still exclude death by "act of war" so be careful when purchasing a policy. An act of terrorism will be considered an act of war at claim time.
    Answered on February 1, 2015
  6. 14231 POINTS
    Tom SheehanPRO
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    In most if not all cases, Life insurance, regardless of whether it is term or permanent will, after 2 years, provide coverage for pretty much any cause of death. During that first 2 years, death by suicide will more than likely be excluded, but after the 2 year period this is included as well. As mentioned above, it is possible that death due to an act of was may be excluded so it is important to talk to your insurance professional about the specifics of your contract.
    Answered on February 5, 2015
  7. 21750 POINTS
    Jim WinklerPRO
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is an excellent question! All policies will have some rules about suicides and questionable deaths during the first two years of the policy, but after that will rarely make any kind of restriction on the cause of death. The type of policy that does is called an Accidental Death Policy, and those policies have very strict limits on what they will pay out for. Nothing health related will pay, unless it was a direct result of an accident, and occurs within a specific time frame after the accident. Insurance companies like marketing these policies as they are big money makers for them, but really should never be considered for someone's primary coverage. Thanks for asking!
    Answered on February 7, 2015
  8. 37376 POINTS
    David G. Pipes, CLU®, RICP®PRO
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    To file a death claim a death certificate needs to be presented. The term life insurance policy could have exclusions that would result in a denied claim, such as SCUBA diving, sky diving, suicide and bungee jumping. If the death of the insured is not the result of one of these exclusions the policy will probably pay. I said probably because companies have gone to court in strange situations to determine their liability. The best known case is where a well-known gangster took out a policy in his real name and was subsequently murdered.
    Answered on February 11, 2015
  9. 5877 POINTS
    Stan Cox IIPRO
    Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
    Typically any life insurance policy will cover death from any cause. Most policies will exclude death by suicide if it occurs within 2 years of implementing the policy, but after that time even suicide is usually covered. Some policies have a little longer exclusion period. If there is an accidental death rider on the policy it will pay double the death benefit if it is caused by an accident.
    Answered on May 25, 2015
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