Have you guys considered life insurance when choosing your options?

[panda55]

As someone with a family that is planning to leave a life insurance policy to them, I've learned certain methods of death can affect if your family is eligible for a payout. My first option was to take some opiates but I learned that if you die of illegal substance that would void your policy. Even if you run your car into a tree that could void your policy because of speeding. Now I'm planning on the nitrogen option even though it's more complicated.

 

[painfree]

From what I understand from policies I've read, any suicide related death is not payable. They would need a definitive other cause. also check how long the policy needs to be in place (some require a minimum of 2 years). This is in Canada though.

 

[zad.moon]

UK based here.

Most will not payout if suicide is within 12 months of start date of the policy. So definitely leave well over 12 months before you cbt.

The policies that I have read will payout for suicide as long as it is after the 12 month period. However, do your research and read the full policy.

What may cause an issue is non-disclosure of any mental health issues. Being diagnosed with any MH will bump up your premium I imagine, but not declaring it and then cbt even after the 12 month, the insurer will then argue and likely not payout.

I am like you and have a family that I would like to leave the payout to. It just means I have to wait a little and play it cool...

 

[TheHolySword]

My policy through my employer requires minimum 2 years. There are no further requirements as far as I have read but insurance companies hate having to pay. They will do their best to find any reason not to or to pay the minimum that they can. I'm leaving everything to my brother and I'm just hoping they don't fuck him over after I'm gone.

 

[L'absent]

An insurance company will do everything it can to avoid paying and many times it doesn't pay even if two years have passed since it was signed. Insurance here also does not pay if: In the event of death due to a road accident, if you have already obtained compensation from the Auto TPL (you cannot have two compensations); If the insured person dies while committing an intentional crime which is the direct cause of death; For deaths occurring at work, in the case of risky jobs (e.g. exposure to radiation); For deaths occurring during dangerous sporting activities not declared to the insurance company; In the event of voluntary suicide occurring before two years have passed from the conclusion of the contract; In the event of murder of the policy holder by one of the beneficiaries; If the insured person abuses alcohol or drugs; If the insured person has voluntarily refused to comply with medical prescriptions; If the subscriber has hidden the existence of pathological conditions from the insurance, even if these are only contributory causes of death and not direct causes.

 

[outrider567]

As someone with a family that is planning to leave a life insurance policy to them, I've learned certain methods of death can affect if your family is eligible for a payout. My first option was to take some opiates but I learned that if you die of illegal substance that would void your policy. Even if you run your car into a tree that could void your policy because of speeding. Now I'm planning on the nitrogen option even though it's more complicated.

In the US, the life insurance payout is null and void if you CTB within 2 years

 

[Aloneandinpain]

I'd have guessed they wouldn't payout at all for people who CTB, but of course that would be particularly unfair on people who get terminal illnesses and then go to Switzerland to end things

 

[zad.moon]

I have long commutes and often think about just undoing my seat belt and letting fate take the wheel. But the collateral damage to others would not be fair. And moreso of the insurance won't pay out due to Road accident and no seat belt...

An insurance company will do everything it can to avoid paying and many times it doesn't pay even if two years have passed since it was signed. Insurance here also does not pay if: In the event of death due to a road accident, if you have already obtained compensation from the Auto TPL (you cannot have two compensations); If the insured person dies while committing an intentional crime which is the direct cause of death; For deaths occurring at work, in the case of risky jobs (e.g. exposure to radiation); For deaths occurring during dangerous sporting activities not declared to the insurance company; In the event of voluntary suicide occurring before two years have passed from the conclusion of the contract; In the event of murder of the policy holder by one of the beneficiaries; If the insured person abuses alcohol or drugs; If the insured person has voluntarily refused to comply with medical prescriptions; If the subscriber has hidden the existence of pathological conditions from the insurance, even if these are only contributory causes of death and not direct causes.

My policy through my employer requires minimum 2 years. There are no further requirements as far as I have read but insurance companies hate having to pay. They will do their best to find any reason not to or to pay the minimum that they can. I'm leaving everything to my brother and I'm just hoping they don't fuck him over after I'm gone.

This is something I worry about after I'm gone, I'd like to leave any money to my kids. In my experience all insurance companies are scum bags