A Study of Legal Status and Judicial Decisions Concerning Suicide and Life Insurance in India

A company that provides insurance policies for people's lives is known as a life insurance business. This includes any contracts where the person receiving the pay-out is guaranteed to die (except in the instance of accidental death only) or suffer any other catastrophe. This definition of a life insurance contract or policy is void in India and the UK. But, much like other insurance departments, the insurer is released from obligation when an insured event—in this case, a suicide—occurs as a result of the insured or his agent's wilful and unlawful actions. Generally, life insurance does not provide coverage for the risk of a suicide commission by insurers, even if they are reasonable. Per this strategy, the claim would be denied both contractually (since the assured cannot be held responsible for his own loss) and generally (because the law forbids him from profiting from his own unlawful activities). The onus of proof rests with the insurers, and in cases when the reason of death is unknown, the policy must be followed due to the assumption that suicide was not the cause of death. India also adheres to this policy. The impact of the suicide clause in life insurance contracts, both before and after January 2014, as well as the evolution of law and policy in connection to claims on life insurance policies where the assured or insured committed suicide after the policy's start are examined in this article. It also offers a comparison of the provisions on suicide in the United States, the United Kingdom, and India.