When Must an Insurable Interest Exist for Life Insurance and Property

question 37

Multiple Choice

When must an insurable interest exist for life insurance and property insurance,respectively?

• A) At the time of policy issuance,and at the time of loss.
• B) At the time of policy issuance,and at the time of payment of the premium.
• C) At the time of loss,and at the time of policy issuance.
• D) At the time of policy issuance for both life insurance and property insurance.
• E) At the time of loss for both life insurance and property insurance.

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Definitions:

Delayed Growth

A condition where a child does not achieve expected growth milestones at the typical age range, possibly due to nutritional, environmental, or genetic factors.

Heart Problems

Medical conditions related to the heart's function which can range from minor issues to serious disorders requiring treatment.

Child Abuse

The physical, sexual, emotional mistreatment, or neglect of a child by a parent, guardian, or other responsible person.

Neglect

Refers to the failure to provide adequate care, support, or attention to someone's needs, often resulting in harm or risk of harm.