Life Insurance Quotes

Insurable Interest

The Dictionary of Insurance Terms and Definitions

A relationship between an insured person and the potential beneficiary of the insurance. This relationship must be present at the time the life insurance policy is applied for but doesn't need to exist at the time of the death. Insurable interest exists because there is a reasonable expectation that the beneficiary will benefit from the continued life of the insured or experience a loss at the death of the insured.

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