Things Life Insurance Doesn’t Cover
People worldwide have life insurance, whether you’re from the USA, Canada, or the UK, there’s specific policies and options for everyone from family life insurance plans or plans for seniors. Before choosing your life insurance, it would be smart to get a quote and understand the insurance policies deductible. However, it’s important to read and review your life insurance policy to understand what it does and does not cover. Here’s some things life insurance typically doesn’t cover: 1. Engaging in risky activities Risky activities, although fun and provide amazing adrenaline rushes, won’t be covered by your life insurance if you die—you might be surprised to learn that risky activities include scuba diving. Some life insurances offer risky activity coverage, but they are only available at a high premium. So, next time you’re thinking about rock climbing, hang gliding, or aviation, make sure you understand the consequences that could come with it. 2. Suicide Life insurance generally covers suicide; however, in the first 2 years of having it, policies include what is called a suicide clause. During this period, a suicide won’t be covered, but premiums that have been paid will be refunded. 3. Illegal activities If you die while engaging in an illegal activity or committing a crime, life insurance will more than likely deny the claim and your beneficiaries won’t be able to claim death benefits.