When is it essential for insurable interest to be present in case of life insurance?

At the time of taking out insurance
At the time of claim
Insurable interest is not required in case of life insurance
Either at time of policy purchase or at the time of claim

LohaHridoy

5 views

2025-01-04 04:42

1 Answers

AhmedNazir

Answer: Option 1

Insurable interest is essentially a monetary interest which one should have on the continuing existence of the object of insurance. So, it is important for it to be there at the time of taking out insurance.

5 views Answered 2022-09-01 13:21

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