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
✅ The correct answer is A.
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.
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.