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| business lic
| This clause stipulates that no payment will be made if the policy holder commits suicide within two years of the policy effective date. After that two year period, many policies will pay death benefits to beneficiaries of a policy holder who commits suicide. The consensus is that most insurance policies contain a clause relevant to suicide. There is a com misconception that taking one's own life is never covered by a life insurance policy. No matter how dire the financial situation, it is never advisable to attempt such an act in order to provide money for beneficiaries. However, knowing the truth about life insurance and suicide before purchasing a policy may be desired by some individuals. This would result in the premiums being returned to the policy holder, now deceased. In this situation, the payment may be cashed by a beneficiary, depending on the law and the written will of the deceased. The clause may state that the insurance contract will become void if the act occurs within two years of the policy being taken out. |