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The Center for Disease Control reports that suicide rates have increased by 35% since 1999 and that suicide is the No. 10 cause of death in America.
Some people might think that life insurance policies don’t cover death is by suicide. However, most life insurance policies have what’s called a suicide clause: If the policyholder dies by suicide within the first two years of the policy, then the insurance will not give beneficiaries the death benefit. If the death occurs after the two-year period, beneficiaries receive the death benefit.
Unfortunately, that doesn’t mean the process is uncomplicated. If the policyholder failed to disclose mental illness on their insurance application, the