Life insurance is one of those things we buy because we want the peace of mind that comes from knowing those we leave behind will be financially protected or buffered if something terrible should happen to us. But more often than you might think, insurance companies find ways to deny claims for life insurance benefits!
In simple terms, Life Insurance comes in two forms: 1) Traditional Life Insurance, and 2) Accidental Death and Dismemberment Insurance.
Traditional Life Insurance is what most people think about when they think of life insurance. This type of coverage will pay a death benefit to the policy beneficiary(ies) when someone dies due to almost any cause, but there are exclusions. Most policies will not pay a benefit for death by suicide within the first two years from the policy purchase.