I am not an expert on insurance.Abraham » Thu Dec 24, 2015 8:43 am
It's my understanding life insurance policies cover suicide once 2 years have elapsed.
Some of you insurance folk correct me please if I'm wrong.
A buddy told me a long time ago that Life Insurance doesn't get paid if you are committing a felony. For example,
If you get killed while trying to rob a bank, then your widow doesn't get paid.
In Texas it is a felony to commit suicide.
I've never tried to look this up. It just seemed too creepy.
However,
I would not be surprised to find out this to be true.
Insurance companies send lobbyists to Austin, every other state capital, and Washington D.C.
So...
If the fear of god doesn't keep you from suicide, you can add the fear that the insurance companies will cheat your widow out of the money.