- 14,808
Interesting conversation. I'm surprised any life policy, regardless of how long it's been in force pays out for suicide. Last time I checked suicide was an illegal act.
What Would You Do?
- Thread starter m2788
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- 4,130
"Last time I checked suicide was an illegal act:"
Not in Oregon or Washington state.
I've been the last person a client talked to once (so far). We had a regular conversation and he sounded Ok. Then he asked how long he had his policy? He thanked me, told me to drop by his business sometime and that was that.
Later that evening, the police chaplin called me (knew me) and told me my client had committed sucide. It was probably not too long after we got off the phone.
I think about that everyso often and try to figure out if there was anything I could do. Known the guy since gradeschool.Usually a upbeat guy. Back then he was experiencing a divorce and minor business troubles and began anti depressants which he started to mix with alcohol. He had a larger policy (back in those days) and it became the unfortunate solution to his problems.
Not in Oregon or Washington state.
I've been the last person a client talked to once (so far). We had a regular conversation and he sounded Ok. Then he asked how long he had his policy? He thanked me, told me to drop by his business sometime and that was that.
Later that evening, the police chaplin called me (knew me) and told me my client had committed sucide. It was probably not too long after we got off the phone.
I think about that everyso often and try to figure out if there was anything I could do. Known the guy since gradeschool.Usually a upbeat guy. Back then he was experiencing a divorce and minor business troubles and began anti depressants which he started to mix with alcohol. He had a larger policy (back in those days) and it became the unfortunate solution to his problems.
- 27,269
I do not work for the Company. Haven't since I was captive. Am I going to write a claim? No. Does not help the client, does not help me and does not help the company (my contract).
That being said. 2 years is a looong time for someone to wait to commit suicide. Not saying it is not done or tried.
If you put it on an app you open yourself up to liability. IMHO.
In this case, since you are uneasy with it, I would walk him.
That being said. 2 years is a looong time for someone to wait to commit suicide. Not saying it is not done or tried.
If you put it on an app you open yourself up to liability. IMHO.
In this case, since you are uneasy with it, I would walk him.
- 5,058
Probably should of never gotten married.
Boy oh Boy, young men and women be careful before you get married, it just might be the death of you!
- 9,744
That may be, but it's purely contractual, and the DB is a mere drop-in-the-bucket to the insurance company...
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That's part of the risk the company takes. They know the percentage of people that will get the policy and wait two years. They also know that the chance of that is small. I would venture to say that most people that want to commit suicide don't still feel that way 2 years later. If they didn't want to cover it, they wouldn't cover it.
I seem to remember a conversation from some time ago (not here) about this topic and there being a legal issue concerning the actual formation of the suicide clause. It's a stat law issue that sets the maximum number of years an insurance company can exclude suicide from paying a death benefit, in most states two years as we all know. The states' ruling was that mentally disturbed people don't buy life insurance, and so no normal person would buy life insurance and wait two years to kill himself or herself so the death benefit got paid.
That being said, I'd sell the guy a new policy, and then figure out a way to get it lapsed right before the end of the second year and sell him a new one. If he questioned it, I'd tell him I was doing his loved ones a favor.
That being said, I'd sell the guy a new policy, and then figure out a way to get it lapsed right before the end of the second year and sell him a new one. If he questioned it, I'd tell him I was doing his loved ones a favor.
- 106
I'd do what the others said and tell him it wouldn't pay for suicide in the first 2 years. A whole lot of changes would and could take place in those 24 months and I doubt it'd be an issue. I doubt someone who is buying this intention is worth even bothering with.
- 4,130
"Probably should of never gotten married"
Actually he was married awhile, the real problem was drugs and alcohol became a big factor. It's one thing to party hard when you're young. It's another thing to continue to party that way after you have a couple little girls.
I don't think he could escape the party boys and the wife got tired of it. By the time he figured that part of it out, she was gone. Partying also started to mess with his business and he forgot to pay a few things and fell behind, and ya never mess with the government.
Actually he was married awhile, the real problem was drugs and alcohol became a big factor. It's one thing to party hard when you're young. It's another thing to continue to party that way after you have a couple little girls.
I don't think he could escape the party boys and the wife got tired of it. By the time he figured that part of it out, she was gone. Partying also started to mess with his business and he forgot to pay a few things and fell behind, and ya never mess with the government.
- 7,790
I'd call 911 or the suicide hotline.
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