Life insurance is not the sure bet people might think it is. Industry experts put the estimate of life insurance paying out 96% of the time. Insurance agencies say the No. 1 reason for a policy not paying out is because the client lied on the application form. Most insurance companies won’t pay out if the policy holder committed suicide with 12 months of taking out the plan. Even after the 12-month period is over, many suicide claims are turned down because of non-disclosure about the mental health of the policy holder. Traveling outside the U.K., U.S. Canada, Australia, New Zealand, the Isle of Man or the Channel Islands for more than 12 consecutive months can also void a life insurance policy.