If someone commits suicide, could there family get a settlement from the insurance company?
I mean from the drug company?
- 9 months ago
Most of the life insurance policies won't pay out if the person insurers commit suicide with in the first 12 months taking out the plan. but most will intial period is up and insurers guard against people obtaining large policies to take their lives family financial difficulties.Source(s): https://www.swiftlifeinsurance.co.uk
- curtisports2Lv 79 months ago
You only see a settlement if you sue and settle rather than going to court. The family would have to prove that the drug manufacturer was negligent in some way. Drug manufacturers print usage directions on over the counter drugs and pharmacies put the prescribing physician's dosing instructions on the label. Drug manufacturers, pharmacists and doctors do not go home with you and hold your hand and see that you don't abuse the drug.
If someone wants to commit suicide, an intentional act, any kind of claim of negligence against a drug manufacturer evaporates.
I do not see why people are talking about life insurance. Life insurance claims have nothing to do with drug companies.
- Casey YLv 79 months ago
From what drug company...drug companies are not insurance companies...
We need more information...post anonymously...what happened.
- 9 months ago
New York Life Insurance Company has a two-year suicide exclusion provision. After two years of paying the premium, you are allowed to commit suicide and your beneficiary will still be able to receive benefits.
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- car253Lv 79 months ago
Maybe. It is difficult to prove. You need to see an attorney. Life insurance only pays after 2 years of having the policy. But this is a drug case. No one here can say a yes or no for sure.
You might repost your question again under the "legal" category.
- Burberry McChavLv 69 months ago
No they won't because suicidal people will pay one installment and then kill themselves, the insurance companies would lose money left right and centre, so many people who commit suicide plan what they'd like to happen afterwards, they don't do it quickly or suddenly and many do plan financially and will have relatives who they want to get money, so would rip off insurance firms this way if they paid out for suicide.
They will look for other reasons not to pay as well as that, if you said you don't smoke but the autopsy finds you did, or other evidence of it comes up, then they won't pay. If you take out insurance tell the truth, update them if things change and don't kill yourself expecting them to pay because they won't.
Different thing here but I just want to mention, no company will insure me just because of a not so serious suicide attempt in 2005, instead I have had to take out a pre paid funeral and put cash away for leaving to people, even though the attempt was so long ago and hasn't happened since.
- ZirpLv 79 months ago
"there family"?? What drug-company?
- JudyLv 79 months ago
Depends on the policy. Most would pay out for a policy that's been in effect over a specified time, not on one that was just bought recently.
- AlexLv 79 months ago
That's going to depend on the policy. Typically they're not going to if the suicide happens within the first two years of having the policy (some states it's only one). A lot of policies are required to refund the premiums paid on the policy.
In general, there is coverage if the family member...
Had free life insurance through work, paid for by an employer
Was insured under an individual policy that went into effect more than two years ago (one year in some states)
Was insured under coverage that he or she purchased through work and that went into effect more than two years ago (one year in some states)
- Anonymous9 months ago
Insurance DOES NOT PAY if the covered person commits SUICIDE. DUH.