In a life insurance contract, insurable interest must exist both at the time of making the contract and at the time of payment under the policy. True/
In a life insurance contract, insurable interest must exist both at the time of making the contract and at the time of payment under the policy. True/False ? Give reason.
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Correct Answer - False : In life insurance, insurable interest must be present only at the time of effecting th policy, but need not be necessary at the time when the claim falls due.
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