In Canada, with most life insurance policies, as long as the policy is in place for at least 24 months then the life insured could commit suicide and it would have to pay out the full amount
In the first 24 months if suicide is cause of death then they would just refund all premiums paid to date and not pay the insurance amount
There's also policies out there that don't pay in the first 24 months for death by any reason, and so must be in place for at least 2 years to pay out
Sounds similar to health insurance in the us. Yep, first order of business will be finding reasons to rescind as many policies as possible, then we will see life insurance companies emphasizing the clotshot to nullify payouts and THAT would presumably be when SHTF
Depends on the contract
In Canada, with most life insurance policies, as long as the policy is in place for at least 24 months then the life insured could commit suicide and it would have to pay out the full amount
In the first 24 months if suicide is cause of death then they would just refund all premiums paid to date and not pay the insurance amount
There's also policies out there that don't pay in the first 24 months for death by any reason, and so must be in place for at least 2 years to pay out
Sounds similar to health insurance in the us. Yep, first order of business will be finding reasons to rescind as many policies as possible, then we will see life insurance companies emphasizing the clotshot to nullify payouts and THAT would presumably be when SHTF