Life insurance may cover death by suicide, but it depends on the case - Business Insider

People with certain pre-existing health conditions may be ineligible for traditional life insurance. Therefore, they get

. Although there is no medical exam, there is usually a health questionnaire. Failure to disclose certain conditions could result in your beneficiaries not receiving the death benefit. Insurance providers will ask if you ever had mental illness or triggered mental health benefits, Mark Williams, CEO ofWilliams noted that providers may ask whether you've used antidepressants, been in therapy, been hospitalized, and whether that was voluntary or involuntary hospitalization.

Not all pre-existing conditions will make you ineligible for life insurance. However, failing to disclose certain conditions during the underwriting process can invalidate your coverage later on, and allow the insurance company to refuse to pay the death benefit.In addition to a suicide clause, most insurance companies have a "contestability" period. The contestability period varies by carrier, but is usually one to two years from the start of coverage.

If you have had mental illness and are considering life insurance, ask your insurance agent about the suicide clause provision. If you already have insurance and are concerned, review your policy and get in touch with your provider.

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