- 1,304
I know there is a 24 month period for personally purchased policies. What is the policy for group life policies?
Suicide Clause
- Thread starter Tkruger
- Start date
- 29,487
- Thread starter
- #3
- 1,304
I'm going to take a wild guess and say it's the same.
Thx sir.
However I need concrete....as in someone who offers group life coverage..
- 591
I would read the original group policy documents, every one is different. I'm guessing that Goillini is probably right since it's a standard exception.
- 4,132
actually the suicide clause is what ever your state says it is. Some states do 12 months, some do 24. What the state uses applies to life insurance, group or individual.
- 15,041
Bingo. Most states use the standard 24 months, however not all do. I can't recall the states, but some variations I am aware of include: 12 months and 24 months if sane.
- 29,487
- 15,041
I was curious if that was the case. For some reason I had a feeling they would not.
Suicide clauses sunset two years after policy issuance. Since group term plans can (and often are) rotated annually the group plan would almost never pay for a suicide claim.
Even if the employer kept the same group contract for years how would the carrier adjudicate the claims?
Based on how long the employee was covered?
I worked for a carrier that specialized in GTL insurance and none of our contracts contained a suicide clause. I also became familiar with other carriers specializing in GTL and I never recall seeing a suicide clause in any of them.
Group permanent life insurance was a completely different animal and often would have a suicide clause.
Even if the employer kept the same group contract for years how would the carrier adjudicate the claims?
Based on how long the employee was covered?
I worked for a carrier that specialized in GTL insurance and none of our contracts contained a suicide clause. I also became familiar with other carriers specializing in GTL and I never recall seeing a suicide clause in any of them.
Group permanent life insurance was a completely different animal and often would have a suicide clause.
