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When should i...

Question

When should insurable interest be present for life insurance?

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Solution

At the time of taking policy.

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Q. Life insurance premium received by an insurance company' should be classified as _______________.

State True or False. An insurance contract is void if the insurable interest is not present.

Q. Select the proper option from the options given below and rewrite the completed sentences.

Insurable interest must exist in ________.
(a) Life insurance contract only
(b) Marine insurance contract only
(c) Every insurance contract

Q. Premium paid on the life policy of the proprietor should be debited to Insurance Premium Account.

Q. Scope of _______ has widened to include disability insurance, health/medical insurance, annuity insurance and life insurance proper.

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