Most Insurance Companies Would Not Cover Suicides At All

This could be a very depressing article, but we cannot neglect the issue just because we find it uncomfortable to talk about.

We read about them in the tabloids, watch them on television and listen to them over the radio. Let's face it then, suicides due to financial dead- ends are happening all around us today. More than being jilted by a lover, being financially distraught is the leading cause for suicide today. But is suicide really a solution, or another problem in itself? The logic behind it is that the surviving members would get the insurance money and their lives could be bettered to at least some degree. It is not necessary to even begin discussing about the social and legal hassles that a family has to face if a member has committed suicide. At the risk of sounding heartless, one must point out that the funeral costs could be a bomb.

There could be litigation, and to top, social ridicule it all, the life insurance policy may not actually pay. They could be the straw that broke the camel's back for a family that is already overburdened by debt and not getting the claims from the life insurance company. Firstly, the family members could become more cognizant of the state of mind of the depressed individual and provide for psychological counseling. In most cases when suicide cases are unsuccessful, there could be a glimmer of hope. But if the unsuccessful suicide attempt leaves some injury or handicap behind, then the family would have to pay medical bills, which could also not be covered by the medical insurance as the injuries were self- inflicted. Let us see what the instances in which companies do cover suicides are and whether they actually cover suicides or not.

The person could be without a job, and facing monstrous medical bills to pay. There are some people who rush out and buy insurance policies just when they are contemplating suicides, and then go ahead and kill themselves when the policy is obtained. Most insurance companies would not cover suicides at all. Such claims are never paid. But there are some companies that would cover suicides if they are committed at least two years after the policy is purchased. Mostly such people would not buy the policy at all as there are no foreseeable benefits. This is based on the psychological principle that even if a person has bought a policy thinking that he/ she would commit suicide two years later, there could be so many changes in life within this timeframe that the mentality of the person could change.

There are also some policies that do not have any restricting stand on suicides, but then these policies are incredibly expensive. Medical insurances would pay for whatever psychological counseling the person needs to have. If a person has been unsuccessful in a suicide attempt and has suffered some injury, then the health insurance is to be considered. But some families would not claim this benefit at all, considering the taboo subject that psychological counseling has become in today's world. Injuries from failed suicide attempts would not be covered by medical policies, as these injuries are self- inflicted. This is contrary to the edict of the world of psychological counseling that their patients' mental states should not be revealed in public. This would make the situation drastically grave as the survivor would have to pay for the hospital bills, doctor, rehabilitation costs's bills, home care attendants and all other potential medical necessities.