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Does Life Insurance Pay for Suicidal Death?

Does Life Insurance Pay for Suicidal Death?
  • 12th Nov 2019 |
  • 9,528

Suicide cases are increasing with each passing year. There are a number of causes for suicide in India and dealing with it is very stressful for the family members of the deceased.

Suicide is not included in a life insurance plan; hence, the family loses the financial security, which increases the financial troubles. If you want to find out that a life insurance policy covers suicide in India, you need to understand life insurance suicide clause in policies issued before and after January 1, 2014.

Life Insurance Plans issued before January 1, 2014

In case of policies that are issued before January 1, 2014, it is stated that if the insured commits suicide within 12 months from the start of the policy or from the date of revival, the policy becomes void and a claim will not be accepted. Hence, when an insured commits suicide before the policy completes one year, no claim will be entertained. If the insured commits suicide after 12 months of the issue of the policy, the family will receive a death benefit.

Life Insurance Plans issued after January 1, 2014

In case of the policies that are issued after January 1, 2014, there is a change in the suicide clause. This varies on the insurance plan. For a market-linked insurance plan, if the insured commits suicide within one year from the issue of the plan, the nominees will receive total value of the policy. For traditional life insurance plans, nominees will receive 80% of the amount of premium paid for death due to suicide within one year from the start of the policy.

Third party

Now, when a policyholder undertakes a loan on the policy and he dies due to suicide during the policy term, the interest of the lender, which is a bank or a financial institution, will remain protected by repaying the loan. It is important to remember that this is only applicable if the notice of this assignment of policy is acknowledged by the insurer, 30 days before the death.

Group insurance policy

In case of a group insurance policy, the policyholder or the employer owns the policy and not the employees that are covered in it.Hence, a claim is not accepted in case of death because of suicide.

Points to remember

In case of any incorrect information provided to the company, the policy remains canceled when a claim is made for death by suicide.In case of a claim due to suicide during the grace period, the sum assured will be paid post the deduction of the outstanding premium payable. In case of the renewal of a lapsed policy, if the insured commits suicide in one year from the issue of the policy, the claim is rejected.

Now that your question does life insurance pay for suicidal death is answered, you need to be aware that suicide is a cowardly act and only puts your loved ones into trouble. Getting an insurance company to pay for a claim in case of suicide is very tedious and difficult.

Kotak e-Term Plan


  • Nominal Cost
  • Multiple Plan Options
  • Flexible Payout Options
  • Critical Illness Rider
  • Tax Savings
  • Long term Coverage

Ref. No. KLI/22-23/E-BB/492


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