Does No Exam Life Insurance Cover Suicide?

salaries, the death of a spouse can leave the remaining family members in a difficult financial situation. No exam life insurance is a simple and fast way of getting life coverage, but does it cover suicides?

digestive_disease_myths_s9_cirrhosisAbout life insurance plans that do not require medical examinations

Life insurance policies that do not ask applicants to take medical exams seem a bit strange and many clients think they are not even real. They are very real and they work  in the same way as any life insurance plan: the insured pays premiums, the policy guarantees a death benefit.

The main difference is the simplified underwriting process which consists of a simple application form. By simply completing a medical questionnaire, a person can qualify for a plan.  Just like traditional plans, no exam life insurance plans can offer temporary or permanent coverage and they have several conditions for paying out a death benefit.

 Is suicide covered?

Yes, suicide is covered under most life insurance plan, but under certain conditions. A life insurance agency will pay a death benefit if the insured committed suicide, but at least two years had to have passed since the signing of the policy.

If the suicide takes place during the first two year of the policy’s term, the beneficiaries will not be eligible to receive proceedings. The agency will declare the contract void and be released of any financial obligations.  This measure is to prevent insurance fraud and to discourage people from committing suicide. No exam life insurance plans follow the same guidelines.

It is important to keep in mind that life insurance is not meant to cover suicides. Life insurance is a policy meant to financially protect people from the negative consequences the death of a provider brings.

No exam life insurance is a simple way to get coverage as applicants do not have to visit doctors and take medical tests. In order to find an affordable plan, you should compare and search quotes. You can do it for free by visiting our website! Click here!