Are there any exclusions on a life insurance policy?
This is an important question because life insurance has
no standard policy that applies to everyone.
Life insurance policy terms, prices, and exclusions may vary widely by life insurance carrier. But in general, life insurance companies are in the business of offering
coverage to as many customers as possible, not turning business away.
Many high risk activities such as race car driving and mountain climbing that might have been
excluded in the past are often accepted for an additional premium.
Even people
who have some chronic health illnesses may find life insurance coverage if they’re willing to pay
more money for their policy.
Most insurance companies have a suicide exclusion, though, for the first year or
two the policy is in force. The duration of the suicide exclusion for life insurance may vary by state.
Learn more about important terms for life insurance you should know before you buy a policy.
