Life insurance is a state regulated industry, which means the state you live in makes the laws regarding life insurance.
Almost all states have their own statutes regarding death by suicide as it relates to life insurance coverage.
As
long as the life insurance policy is "In Force" and at least two years have passed from the date of issuance with no
lapse or reinstatement of life insurance policy (when a policy has to be reinstated due to a
lapse that 2 year clock starts again), most life insurance companies have to pay out a death benefit to the beneficiary even if the death results from suicide.
If the death of the insured person occurs during the 2 year
period, the life insurance policy will not pay out if the cause of death is suicide or even
related to an attempted suicide.
Also, accidental death life insurance policies will not pay out a death benefit for any death caused by
suicide whether intended or not no matter when it occurs.
Do
note though that most life insurance companies will not issue a life insurance policy on
someone with active mental health issues such as depression and they also do
look at certain red flags such as an inordinate amount of debt.
But, if you have been insured by your life insurance policy for at least two years, the premiums are paid up, and you die as a result of suicide, the state law would likely require the life insurance company to pay out a death benefit on your life insurance policy.
Here is an article on Life Insurance and Suicide that explains more about how it works, and offers helpful resources related to this subject.
