What types of risks are commonly excluded from a standard life insurance policy?

In life insurance policies, certain risks are typically excluded to protect the insurance company from excessive liability. The mentioned exclusions in the correct choice cover scenarios that are often seen as hazards to the insurer.

Suicide is a significant factor, as insurance companies frequently impose a waiting period (usually within the first couple of years) during which they will not pay out a death benefit if the insured dies by suicide. This is primarily due to concerns about moral hazard, where individuals might take out insurance with the intent of claiming a benefit shortly after.

Acts of war are also commonly excluded because they pose unpredictable and extreme risks, likely leading to widespread claims that could jeopardize the insurer’s financial stability. When it comes to death due to illegal activities, insurers generally won't cover fatalities that occur while the insured is engaged in illegal acts, as this can fall into the category of risky behavior that increases the likelihood of mortality.

These exclusions are grounded in the emphasis on underwriting principles that guide insurers in evaluating the potential risk of loss. In contrast, the other choices include scenarios that are generally covered or do not apply as exclusions in standard life insurance policies.