WAEC SSCE - Insurance - 2016 (Objective)

A clause that prevents the insurer from paying under a policy if the insured killed himself is?

exceptional clause

revival clause

accidental clause

suicide clause

Maelezo ya Majibu

The clause that prevents the insurer from paying under a policy if the insured killed himself is a suicide clause. A suicide clause is a provision in an insurance policy that specifies that if the insured person dies by suicide within a certain period of time after the policy is issued, the insurer will not pay the death benefit. This clause is intended to prevent people from taking out life insurance policies with the intention of committing suicide shortly thereafter, in order to provide financial support for their beneficiaries. The length of the suicide clause varies depending on the policy and the insurer, but it is usually one to two years from the date the policy is issued. If the insured person dies by suicide within the specified time period, the insurer will not pay the death benefit, but will return the premiums paid by the policyholder instead. It is important to note that the suicide clause does not apply in cases where the insured person did not have the intention of committing suicide at the time of taking out the policy. If the death of the insured person is found to be accidental or due to natural causes, the insurer will pay the death benefit as stated in the policy.






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