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

At the time of taking policy
At the time of claim
Both A & B
None of the above

LohaHridoy

7 views

2025-01-04 04:42

1 Answers

AhmedNazir

Answer: Option 1

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.

7 views Answered 2022-09-01 13:21

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