If a life insurance policy is put in force correctly, and if the insured person does not commit suicide in the first two years after the policy goes into effect, the policy will pay. Policies in which the client honestly answers the questions on the application with a good agent, will pay.
If the insured person omits or lies about a significant health detail that was asked about on the application or during underwriting, the policy could be contested if death of the insured person occurred within two years after purchasing the policy. If a policy is contested, there is still a chance it might pay. Suicide during the first two years that the policy is in effect is an exclusion for which the policy will not pay.
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If the insured person omits or lies about a significant health detail that was asked about on the application or during underwriting, the policy could be contested if death of the insured person occurred within two years after purchasing the policy. If a policy is contested, there is still a chance it might pay. Suicide during the first two years that the policy is in effect is an exclusion for which the policy will not pay.