Suicide Insurance: A New Product With Broader Market Applications
July 19, 2016 by InsuranceNewsNet
Suicide insurance is relatively new to the market. There are two main areas in which it can be used.
It is essentially used to protect third parties from net losses resulting from an individual’s suicide death, in a situation where the third party has advanced money to the deceased individual such as in the case of a structured settlement, an annuity or a lottery. It also can be used in a situation in which the third party has a business relationship with the deceased person, such as in the case of a key man or executive arrangement.
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