If the insured person commits suicide, whether sane or insane, within one year from the date of commencement of a money back 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.
Money Back Exculsions: Basics
- What does my family receive when I die within the term of my life insurance policy?
- Insurance is null and void if suicide is committed within a year
- Wondering how long you need to keep yourself insured?
- Money-back Life Insurance Plan
Money Back Exculsions: Opinion
- How much do you pay to cover your financial liabilities with life insurance?
- Dos and Don'ts while buying life insurance
- What is the process to get a life insurance policy?
- Term Insurance comparator
- Returns on Money Back Policy vs. Inflation Calculator
- Should I Continue My Children's Money back Policy?
- Endowment vs. Whole Life Comparator