For a Life Insurance, Insurable Interest Is Necessary at the Time

question 30

True/False

For a life insurance, insurable interest is necessary at the time of loss.

---

Definitions:

Disposable Income

Money left after taxes and compulsory fees have been subtracted, which can be used for spending or saving according to personal preference.

Marginal Propensity

The additional amount that people consume or save when they receive an extra dollar of income.

Simple Spending Multiplier

A ratio that estimates the impact on aggregate output (or income) of a change in autonomous spending.

Net Taxes

The total taxes paid by an individual or business minus any government subsidies or refunds received.