Life

New Interpretation of the Suicide Exclusion for Accidental Death & Dismemberment Benefits

The following provision has been removed from the Accidental Death & Dismemberment Product Standards

Suicide
ORS 742.005(3)

The policy may provide for a suicide exclusion that includes a provision of conditions.

The suicide exclusion period does not exceed two years from the date of issue of the policy.

A minimum refund of all premiums paid, less dividends paid and any indebtedness, shall be paid by the company in the event of death by suicide during the suicide exclusion period.

This change means that suicide may be excluded from Accidental Death & Dismemberment products.

If you have any questions regarding this change please contact your Health or Life Analyst at the Oregon Insurance Division.