Overview

If the insured person commits suicide, whether sane or insane, within one year from the date of commencement of an endowment life insurance policy, the cover will become void, i.e. the nominee cannot claim the sum assured. Only the premiums paid up to the date of death will be refunded; after deducting the expenses incurred by the insurer for issuing the cover.

ULIP Exclusions: Basics

Insurance is null and void if suicide is committed within a year

Death claims are not payable under certain circumstances in case of life insurance. ......

FAQs on Life Insurance Basics

Do you need insurance if your not the breadwinner of the family? Not really. ......

The death claim process is simple and the benefit is tax free

Make life easy after death . Fill in a form to file a death claim . It will be about four months before you can get the claim amount. ......

ULIP Exclusions: Opinion

Decision-making Corner

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