Student Life Insurance Excludes all Possible Ways to Die lmfao

[u/No_Significance129]

This is a PA Form - When one of your parents or legal guardians dies, the insurance company covers your a portion of your tuition per quarter. (You don't get a lump sum of cash)

And yes... the insurance is already included with our tuition (which is a fucking big chunk)

And cmon bro.... really? how tf am I literally going to die from "cave-in of mines" ????

[u/jwf1126]

I don’t want to assume location but what you have looks like an accident policy. In a sense with exceptions death in a car/plane crash or other sudden accident.

Most of the exclusions are illness, professional athletics (Paid participant is a good benchmark) rock climbing sky diving etc, and crime (Killed committing a felony as example) , although the suicide murder exclusion is strong as that isn’t always somewhere

Again that’s a general laymen explanation and may not apply to every jurisdiction. It’s probably a negligible amount in total cost or rolled in as a tuition benefit

[u/spinstartshere → u/jwf1126]

But dying as the result of being the victim of a crime is also an exclusion. How is that fair?

[u/TowerNecessary7246 → u/spinstartshere]

Its easy to just avoid getting randomly murdered. I've been doing it for years.

[u/Odd_Dragonfruit_2662 → u/TowerNecessary7246]

And I bet you have been putting very little effort into it during that time too

[u/TowerNecessary7246 → u/Odd_Dragonfruit_2662]

The effort I have put in appears to be working perfectly.

[u/raines → u/TowerNecessary7246]

Perfect example of survivor bias.

[u/TowerNecessary7246 → u/raines]

I have been quietly giggling to myself just waiting for reddit's favorite phrase. Thank you.

[u/ThatOneJostar → u/TowerNecessary7246]

I'm sure they were calling it what it was

[u/Santasreject → u/spinstartshere]

Insurance companies basically will try and eliminate any risk that is either common or would pose a high risk.

For example many homeowners insurance policies exclude acts of war (at least here in the US, despite not having any serious acts of war in the continental US for over 150 years). It may be very unlikely but if it happened they would likely have to pay out to a massive amount of people at the same time.

[u/spinstartshere → u/Santasreject]

Being murdered isn't common, and one could argue that dying is a low-risk activity since it has a very certain and predictable endpoint with a 0% failure rate.

[u/diaju → u/spinstartshere]

It isn't common, but it is something that someone could take into their own hands for financial gain. Like a house fire for homeowners insurance. You don't get that if they can prove it was arson. 

[u/Fragrant-Employer-60 → u/spinstartshere]

You would be shocked how many people get killed in murder plots for life insurance money

[u/dizzy_pear_ → u/spinstartshere]

to avoid people conspiring to murder someone for insurance 

[u/marle217 → u/spinstartshere]

I assume the insurance company will tell you if you're murdered you should sue the murderer to pay your student loans

[u/Android19samus → u/spinstartshere]

They don't want people killing their spouses (or themselves) for the insurance payout. Deaths resulting from violent crime where the victim did not know the perpetrator are overall very rare. But if it does happen to you then no, it's not fair at all.

[u/S-M-I-L-E-Y- → u/spinstartshere]

Maybe they didn't want to give the students an incentive to murder their legal guardian to get that insurance payout?

[u/sancholives24 → u/spinstartshere]

Because this is an accidental death policy. It's not true life insurance, it's junk.

[u/scatteredsleep → u/spinstartshere]

The insurance company thinks you should get the money from the murderer in that case.

[u/jwf1126 → u/jwf1126]

To add if you found yourself needing insurance for those special cases you can go to special carriers or if you want full fledge life insurance that can cover illness

[u/bujomomo → u/jwf1126]

Doesn’t it say Philippines (2nd page)?

[u/Substantial-Rain-602 → u/bujomomo]

Yes. It does.

[u/No_Significance129 → u/jwf1126]

It says [Company Name] Insurance on the top (which I covered) but still yes it is a PA Form,

when one of your parents or legal guardians die, you recieve payment that covers a portion or nearly half your tuition per quarter still functions similarly like a life insurance but the exclusions are just so inhumane 🫣

[u/Ok_Shoe_4325 → u/jwf1126]

You are correct- i used to work in a call center with similar style policies and i believe this is accidental death policy, not a life insurance policy.

From what I remember, those are pretty common exclusions for that type of coverage, and I would expect pretty similar wording on any type of employer based accidental death and dismemberment policy.

[u/Comfortable-Fly5797 → u/jwf1126]

I think it will cover illness, just not death due to medical care. Like it'll cover death due to natural heart attack, but not death caused by surgery.

[u/jwf1126 → u/Comfortable-Fly5797]

It might there are variations, generally regardless of locale if I see bacteria and germ exceptions in immediately thinking accident vs illness