Unfortunately, during the holiday season, is when the most suicides happen. This I found out when researching for this topic. I wanted to know what people were saying about life insurance and suicide.
These google discussion group topics were a few years old, however they’re still relevant and horrifying. It still shocks me that people openly talk about committing suicide in an open forum. (I hope that google is some how monitoring these discussions)
In one post, the guy or girl is asking for advice on how to kill themself, and then how to make the death look ok for the life insurance company. Honestly, these people need serious help.
QUESTION: Can you purchase life insurance and then immediately commit suicide?
The answer to this suicide question is: Most policies require you to wait at least 2 years before you kill yourself. This is according to Erik Haynes of Conservest Inc. in Toronto, Canada. According to Erik “You can’t buy a policy today, kill yourself tomorrow and have your beneficiaries reap the cash benefits of your death”. My thoughts are, hopefully a 2 year waiting period would allow you to get some psychiatric help and get better mentally!!
The other point is this: how would the beneficiaries of this “suicide money” feel? Even though they receive $250,000 or $500,000 cash benefits, this money would be pretty sour for them to spend knowing you killed yourself so they could get it!
You should always read your life insurance policy to know what you have agreed to.
I’m pretty floored that people talk about suicide so openly on the internet. While it may seem anonymous, the police should be monitoring those types of posts and giving people help.
After writing this article, I checked the post that I was referring to. I noticed no activity after a while. Hopefully, they received help for their problem and not the other way around.
Suicide is not the answer if you need life insurance benefits for financial problems.