The manner of a person’s death can affect when and whether the death benefit is paid to beneficiaries. Life insurance companies in Tyler, TX may want to make sure a beneficiary didn’t murder the policyholder to get the death benefit. Most of us think this only happens in the movies, but there are a few real-life scenarios.
What Counts As Suicide?
A person ending their own life, as determined by experts, counts as suicide. Most people view taking medication that can ultimately end a person’s life as suicide, but that’s not necessarily the case if that’s their only option. For example, a heart patient whose only option left is to take medication, but that same medication will ultimately cause a heart attack. In this situation, the death is commonly stated as a heart attack.
Family or loved ones thinking a person committed suicide may not be enough. There may be an autopsy or investigation to rule out murder, especially if someone had a high net worth, a large death benefit to be paid out, or family disagreements.
How Does It Impact The Death Benefit?
Companies like EasTex Insurance usually wait until an investigation is complete before releasing the death benefit. However, they don’t complete their own investigation. Instead, they may speak with the police or ask to receive police reports to ensure the person wasn’t murdered. Many policies have a clause that the benefit isn’t released if the person was murdered, but it varies by company.
Agents here at EasTex Insurance can explain more about how the death benefit works when there is a murder or suicide. Contact us today to learn more. We’re currently serving the Tyler, TX area.
