The bill allows life insurers to exclude liability if the insured commits suicide within 2 years of the date of issuance of the policy. The insurer is required to refund all premiums paid on the policy. No impact on state funds. Supporters say that Missouri is the only state that does not provide an exclusion period for suicide.
Supporters also say that the bill lowers policyholder's rates.
Those who oppose the bill say that the bill probably violates the Americans With Disabilities Act, is unfair to survivors, and does not generate much savings for insurance companies. Testifying against the bill was the Missouri Association of Trial Attorneys. The bill allows life insurers to exclude liability if the insured commits suicide within 2 years of the date of issuance of the policy. The insurer is required to refund all premiums paid on the policy.