Claims for Suicide

[MichaelBurton]

Have any of you ever delivered a death claim for a suicide for a policy you sold?

 

[rousemark]

Have any of you ever delivered a death claim for a suicide for a policy you sold?

Yes. .

 

[FEX Quotes]

Have any of you ever delivered a death claim for a suicide for a policy you sold?

There was a death claim for suicide on a policy I wrote, but I did not deliver the claim.

 

[Josh]

There is an agent that had it happen like right at the 25 month mark. Really messed with him.

 

[LGilmore]

I was the last person he spoke to. He was checking his policy date and seemed fine. He committed suicide a few minutes after speaking with me. I got the call later that day from the police chaplain who I also knew. He committed suicide one day after the two years.

I had known the insured since 6th grade through HS. He was an orphan policy that I took over. Tough luck with taxes and alcohol and depression. His solution was to end his life. I delivered the check about five days later.

His dad seemed to care more about the check than his son as he got a share, his wife was leaving him anyway and pretty much was the same way.

I let them be as it was the healthiest thing for me.

 

[NinjaNic]

Working for a .com agency back in 2008, after the market adjustment. Guy had his policy for 3 years, and called in to adjust his beneficiaries. Added several people that were not family and had sent the bene change form right to the carrier. Killed himself a few days later. Large policy--$5m and had put person A as 3.2%, person B as 7.4% etc. Turns out, he was a financial advisor and he had, in his mind, lost a lot of his client's money and this was his way of repaying them back. Carrier honored all the splits and paid very quickly.

 

[WinoBlues]

Have any of you ever delivered a death claim for a suicide for a policy you sold?

Yes.

First one was a Sheriff Detective. Had called me to add another Million. But after I explained the suicide and cotestible clause, he asked, He chose not to increase.
Ate his gun at the Cop shop later that week.

A couple years ago a client called and asked a bunch of questions about the Bene's, ownership of her daughter's policy if she died first, and suicide.

She had recently been paralyzed from the chest down. Before that she had been a champion body builder. Now she flopped out of her wheelchair if not strapped in properly. I accidently emailed a summary of our conversation to her daughters as well as leaving a message to the wrong number.

 

[MichaelBurton]

There is an agent that had it happen like right at the 25 month mark. Really messed with him.

Gilmore, was this you?

----------

Yes.

First one was a Sheriff Detective. Had called me to add another Million. But after I explained the suicide and cotestible clause, he asked, He chose not to increase.
Ate his gun at the Cop shop later that week.

A couple years ago a client called and asked a bunch of questions about the Bene's, ownership of her daughter's policy if she died first, and suicide.

She had recently been paralyzed from the chest down. Before that she had been a champion body builder. Now she flopped out of her wheelchair if not strapped in properly. I accidently emailed a summary of our conversation to her daughters as well as leaving a message to the wrong number.

Seems like that might have, in a way, been a fortunate mistake to make (sending the e-mail summary to the daughter). Might have given her a chance to intervene?

But this stuff is so hard to see coming. But perhaps not so much in that situation.

Tough stuff. Thanks for sharing that.

 

[LGilmore]

Gilmore, was this you?

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Not sure, I have written about this before and yes absolutely messed me up. I think it still messes with me a bit when large face amounts are involved. It is in the back of your mind. You find yourself looking at the individual slightly different as if he or she could be the next one.

It was such a normal conversation that day, thought nothing of it. A few hours later when the call from the police chaplain came, I was informed I was his last call. He had cut his wrists, hung and stabbed himself. His mom found him.

He had fallen behind with taxes, not a huge amount but since he was going through so much, it sort of took him over the top. I had the check within 5 days for the family. As I said the reactions from those family members made me keep a safe distance from that point on.

It's been a long time since I dealt with this. I do think about it when ever I am quoting million plus policies. I don't think something like that ever leaves you.

We have agents claiming people are underinsured quite a bit. This is the flip side of the situation, where the insured looks at the solution to their problems as the large face amount they have in life insurance.

 

[MichaelBurton]

Gilmore, was this you?

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Not sure, I have written about this before and yes absolutely messed me up. I think it still messes with me a bit when large face amounts are involved. It is in the back of your mind. You find yourself looking at the individual slightly different as if he or she could be the next one.

It was such a normal conversation that day, thought nothing of it. A few hours later when the call from the police chaplain came, I was informed I was his last call. He had cut his wrists, hung and stabbed himself. His mom found him.

He had fallen behind with taxes, not a huge amount but since he was going through so much, it sort of took him over the top. I had the check within 5 days for the family. As I said the reactions from those family members made me keep a safe distance from that point on.

It's been a long time since I dealt with this. I do think about it when ever I am quoting million plus policies. I don't think something like that ever leaves you.

We have agents claiming people are underinsured quite a bit. This is the flip side of the situation, where the insured looks at the solution to their problems as the large face amount they have in life insurance.

I had (and I guess am still having) an odd experience with a very close friend who actually chose to let his policy lapse because, as he confided in me at the time, he felt it was tempting him to commit suicide when he was going through a very tough time.

It was a very awkward place to be in, since I'd sold him the large policy and knew his wife would be very, very pissed if he lapsed it, even though they were separated at the time.

All I can say is that my buddy is alive, doing well, a great dad, and even a great husband. They are back together. She still is not pleased at all that he lapsed his policy and I am pretty sure she blames me for it . . . though she's never said so.

He's hinted at times that he's ready to buy again. But I'm not sure I'm going to be the one to sell that policy. Or if I do, I'm going to make sure it's small enough to where he'll never have the illusion that he'd be doing anyone any favors by putting a bullet in his head.