When must an insurable interest exist in life insurance? both at the time of death and...

When must an insurable interest exist in life insurance?

both at the time of death and at the inception of the policy

only at the inception of the policy

only at the time the beneficiary is paid

only at the time of death

Solutions

Expert Solution

The answer is Option B (only at the inception of the policy).

In case of life insurance, insurable interest must exist only at the time of inception of the policy. Insurable Interest is considered so that people are not making profits out of someone's death.

jeff jeffy answered 1 year ago

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