GRiD: Group life assurance not paying out for suicide is a myth

To coincide with Dying Matters week, Group Risk Development (GRiD) has highlighted that group life assurance (GLA) will pay out if a policyholder takes his or her own life, despite widely held beliefs that this would not be the case.   The common misconception is that employer-sponsored life assurance, the most common group risk product, does not pay out in the event of suicide, GRiD has warned. For individual life assurance, a pay-out for death from suicide usually depends on a set amount of time that a policy has been in existence, however for GLA no such exclusions exist. Extra ...