Shadow

Author: Veronica Baxter

Life Insurance and Suicide Question & Answers

Life Insurance and Suicide Question & Answers

Health
I met with busy Philadelphia life insurance beneficiary lawyer Chad G. Boonswang, Esq. recently and spoke with him about how life insurance providers handle beneficiaries’ claims when the insured commits suicide. Veronica Baxter: Do insurance companies pay beneficiaries’ claims when the insured dies by suicide? Chad Boonswang: Perhaps. It depends on several factors, though I will tell you that life insurance companies frequently try to avoid paying those claims. Beneficiaries are often feeling so bereft at the unexpected death of their loved one that when their claims are denied, they don’t have the heart to pursue it further. Most should. Keep in mind that the insurance companies only make money when they don’t pay claims. They have little incentive to pay beneficiaries when ...