By Rebecca W. Geyer, Rebecca W. Geyer & Associates PC
Suicide is a disturbing topic, New York attorney Mark Michael Campanella admits, yet suicide is a reality that many families unfortunately face. While there’s no question suicide can devastate a family, Campanella assures clients and their heirs that if a person’s wishes have been outlined in a properly executed and valid estate plan, those wishes will still be followed regardless of the manner of death. The one caveat, Campanella adds, has to do with life insurance contracts, which are often issued with suicide exclusion clauses.
It’s actually not true that,if you commit suicide, your life insurance will always refuse to pay out, insurancequotes.org explains. Some insurance policies will pay benefits even if the policyholder committed suicide so long as the policy has been held for a certain minimum period (usually two to three years, depending on the carrier). The one caveat, Campanella adds, has to do with life insurance contracts, which are often issued with suicide exclusion clauses.
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