When Must an Insurable Interest Legally Exist in Life Insurance

question 17

Multiple Choice

When must an insurable interest legally exist in life insurance?

• A)only at the time of the insured's death
• B)only at the inception of the policy
• C)only at the time the beneficiary is paid
• D)both at the time of the insured's death and at the inception of the policy

---

Definitions:

Conservation

The realization that altering an object’s or substance’s appearance does not change its basic properties.

Centration

Focusing attention on one characteristic to the exclusion of all others.

Imprinting

A form of rapid learning occurring at a particular life stage, leading to a long-lasting behavioral response to a specific individual or object.

Object Permanence

The Piagetian term for one of an infant’s most important accomplishments: understanding that objects and events continue to exist even when they cannot directly be seen, heard, or touched.