Life insurance company contracts generally include war clause exclusions in their policies. Life insurance companies also do not cover suicide during the contestability period beginning from the date other policy is in force to the end of the second anniversary of the policy. Life insurance companies may deny a claim because of fraud, i.e. misrepresentations, misstatements and material omissions.
Life insurance covers death by any reason except suicide in the first two years. It may also exclude death due to acts of war or death caused while in the process of committing a crime. It covers death due to any health reason and death due to accident. As long as you fill out application honestly, you have nothing to worry about.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
A life insurance policy must be in force to pay benefits to the beneficiary. Life insurance companies have denied claims for several reasons. There is an exclusion for suicide within the first two years of most policies. Claims have been denied for failure to report important medical conditions. Sometimes the company will deny a claim when the death occurs under unusual circumstances. When a claim is denied the premiums are generally returned.
President, The Firm of Steven H. Kobrin, LUTCF, 6-05 Saddle River Rd #103, Fair Lawn, NJ 07410
Life insurance contracts are remarkably simple. When you die, your beneficiary gets paid.
There are very few exceptions to this rule:
1. Suicide in the first two years (you can't blame the carriers for that one).
2. Insurance fraud in the first two years (can't blame them for that either).
3. Dangerous activities disclosed at the time of application. These are really for specific activities such as helicopter flying.
Important note: there are excess-market carriers that will apply additional exclusions, such as entering war zones, and other especially dangerous actions. But by and large, your mainstream carriers will take you as you are and not asses any restrictions or exclusions.
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There are very few exceptions to this rule:
1. Suicide in the first two years (you can't blame the carriers for that one).
2. Insurance fraud in the first two years (can't blame them for that either).
3. Dangerous activities disclosed at the time of application. These are really for specific activities such as helicopter flying.
Important note: there are excess-market carriers that will apply additional exclusions, such as entering war zones, and other especially dangerous actions. But by and large, your mainstream carriers will take you as you are and not asses any restrictions or exclusions.