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Suicide clause

Life insurance policy provision that states if the insured takes his or her own life, then the proceeds of the policy will not be paid.
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UK: Clause in a life insurance policy enabling the insurer to avoid the contract if death occurs by suicide within a specified time (one or two years of inception). Some offices omit the exclusion altogether.

Suitability

(FSA Conduct of Business Rule 5.3). This builds on know your customer. The provider or independent intermediary must take reasonable steps to recommend an investment suitable for the customer. This applies when advising private customers, managing occupational schemes or stakeholder schemes, or promoting personal pensions schemes to groups of employees. The suitability requirements are especially stringent for packaged policies to private customers. Most suitability requirements call for a formal suitability letter to the customer explaining the reason for the recommendation. The letter must summarise the main consequences and any possible disadvantages of the transaction.