A Person Always Has an Insurable Interest in His or Her

question 1

True/False

A person always has an insurable interest in his or her own life and the life of his or her spouse or fiancee, but not in parents or children.

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Definitions:

Large Profits

Substantial earnings exceeding the costs of production and operation of a business.

Innovation

The process of creating new ideas, products, or methods, which can significantly change market dynamics or societal practices.

Annual Interest Rate

The percentage of the principal amount of a loan that is charged as interest to the borrower for one year.

Interest

The cost of borrowing money, typically expressed as an annual percentage of the loan amount.