People worldwide have life insurance, whether you’re from the USA, Canada, or the UK, there’s specific policies and options for everyone from family life insurance plans or plans for seniors. Before choosing your life insurance, it would be smart to get a quote and understand the insurance policies deductible. However, it’s important to read and review your life insurance policy to understand what it does and does not cover. Here’s some things life insurance typically doesn’t cover:

1. Engaging in risky activities

Risky activities, although fun and provide amazing adrenaline rushes, won’t be covered by your life insurance if you die—you might be surprised to learn that risky activities include scuba diving. Some life insurances offer risky activity coverage, but they are only available at a high premium. So, next time you’re thinking about rock climbing, hang gliding, or aviation, make sure you understand the consequences that could come with it. 

2. Suicide

Life insurance generally covers suicide; however, in the first 2 years of having it, policies include what is called a suicide clause. During this period, a suicide won’t be covered, but premiums that have been paid will be refunded. 

3. Illegal activities 

If you die while engaging in an illegal activity or committing a crime, life insurance will more than likely deny the claim and your beneficiaries won’t be able to claim death benefits. 

4. Beneficiary murder

If your beneficiary murders or is tied to your murder, they won’t be receiving any death benefit. As an alternative, your life insurance will go to a different beneficiary or become part of your estate. 

5. Dishonesty on the application

You don’t want any misinformation on your application, whether you omit health conditions or alcohol and drug use, lying on your application is never a good idea and could have some serious consequences. It’s a type of insurance fraud, and if you get caught before death your coverage could be disqualified and you could get criminal charges. After death, your beneficiary won’t receive any death benefits. 

6. No designated beneficiary

If you don’t put down a designated beneficiary before you pass, the death benefit will likely go to your estate as opposed to your loved ones. Make sure you have a set beneficiary, and make sure they know about it—you’d be surprised at how many death benefits go unclaimed due to beneficiaries being unaware. 

7. Expired policy 

You will only have a death benefit if you pass during your policy’s term, ranging from 1-40 years. If you prefer, there are options for whole life benefits that will cover you at any point in time, just make sure you keep paying your premiums.