22. "suicide riders" were on policies pre WW2 - the suicide clause is
in all NAIC model law states - which means all states.
And policies with "riders" have been held invalid as against public interest - so I can think of no way a suicide would stop the payment.
The options on a suicide for an insurance company - since it is forbidden to try to obtain "unjust enrichment" - is to return premiums - or to pay the death benefit in the policy. I have not heard of a rider paying "return of premiums" instead of the death benefit in all the years I have been watching this stuff (meaning post 1960). And the suicide clause is uniform throughout the states (granted some 1 year rather than 2 year stuff is around).
Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators
Important Notices: By participating on this discussion
board, visitors agree to abide by the rules outlined on our Rules
page. Messages posted on the Democratic Underground Discussion Forums are the
opinions of the individuals who post them, and do not necessarily represent
the opinions of Democratic Underground, LLC.
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
