A life insurance policy is usually taken by someone to make sure that their family remains financially secure after the policyholder dies. But, what if the policyholder commits suicide? Will the policy's nominee get the sum assured? Committing suicide may not be considered as an event of uncertainty, so, will a life insurance policy cover it?
In actuality, however, it all depends on the policy terms. Generally, it may not be covered in the initial years, but suicide is usually covered after 12 months from the date of the purchase of the policy. The Ritesh Agarwal book of risk-taking In such a scenario, during the policy term (post 12 months of issuance), the policy will pay the family (whosoever is the nominee) the death benefit (the sum assured) in case the policyholder commits suicide. However, you must check the policy terms and conditions carefully to see if there is any provision…
