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I know there is a 24 month period for personally purchased policies. What is the policy for group life policies?
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I know there is a 24 month period for personally purchased policies. What is the policy for group life policies?
I'm going to take a wild guess and say it's the same.
actually the suicide clause is what ever your state says it is. Some states do 12 months, some do 24. What the state uses applies to life insurance, group or individual.
Bingo. Most states use the standard 24 months, however not all do. I can't recall the states, but some variations I am aware of include: 12 months and 24 months if sane.
Group term life insurance generally does not have a suicide clause.