Can your beneficiary collect life-insurance benefits after your suicide on accidental policies?
Life insurance policies do not pay out a death claim resulting from suicide if the suicide occurs within the first 2 years the person is insured by the policy. In some states the suicide exclusion may be 1 year, such as, the state of Colorado.
However, accidental death insurance plans do not pay out a claim for suicide since it is an intentional act, not an accident.
Accidental death plans only pay out a death benefit if the insured dies from an accident, and death must occur within a certain time-period of the accident, as stated in the policy.
Accidental death insurance provides life insurance protection for the insured to cover death resulting from an accident, not any other cause of death, such as intentional acts or natural causes like a heart attack.