Apart from all the benefits that a life insurance policy offers, there are certain exclusions too. Exclusions are those incidents, accidents or action from the insured that are not covered under the life insurance policy cover which means that the insurer will not receive any financial help or claim from the insurance company in case those cases happen.
The first exclusion from the life insurance policy is mostly the suicide clause. Under the suicide clause it is clearly stated that the insurance company will not pay out any amount if the policy holder commits suicide during the first two years from buying the policy. Only the premiums paid will be refunded. Many people buy the life insurance policy and commit suicide so that they can pay off their debts and the family can live in peace. The suicide exclusion is to prevent such cases. Another exclusion is the aviation exclusion which means if the insured has an accident while travelling in a private plane or is not a passenger of a commercial flight, he will not be paid any benefits. In the same way, war exclusion is there according to which if the person dies during a war, he will not be paid anything.
Also there is a dangerous activity exclusion mentioned in most of the policies according to which if the person dies during activities like hand gliding, auto racing etc., there will no payments from the insurance company. There are many such exclusions which one must know before buying a life insurance policy to save them from facing any untoward situation later on.
