According to common law, when should insurable interest be present in a life insurance contract?

According to common law, when should insurable interest be present in a life insurance contract? Correct Answer At the time of taking policy

According to common law, At the time of taking policy insurable interest must be present in a life insurance contract. If there was no insurable interest requirement, some people would be tempted to purchase life insurance policies to collect the death benefit by killing the insured. A person is always considered to have an unlimited insurable interest in his own life and health.

Related Questions

According to common law, when should insurable interest be present in a general insurance contract?
When is it essential for insurable interest to be present in case of life insurance?
নৌ বিমার আহাজ ভাড়া পণ্য পৌঁছানোর পর পরিশোধ করা হলে, জাহাজ ভাড়ায় কার বিমাযোগ্য স্বার্থ বিদ্যমান? (Who has insurable interest on freight in marine insurance if the freight is paid after arriving goods at the destination?)
For a household insurance policy, insurable interest need only exist at outset and at what other point?
Rahul is employed by Sunny. In respect of this employment, Rahul automatically has an insurable interest in Sunny’s life up to what limit, if any?
In which of the following cases is insurable interest not present?
Which of the following is not correct with regards to insurable interest?
In which of the following cases does insurable interest not exist?
কোনটি বিমাযোগ্য বিশুদ্ধ ঝুঁকির উদাহরণ? (Which of the following is the example of insurable pure risk?)