Only Someone with an Insurable Interest Can Enter into an Insurance

question 71

True/False

Only someone with an insurable interest can enter into an insurance contract.

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Definitions:

Custom-Made

Items or products that are specifically designed and produced to meet the unique requirements of an individual or entity.

Winter Coat

An article of outdoor clothing designed to provide warmth and protection against cold weather conditions, typically featuring insulation and water-resistant materials.

Reasonable

Pertaining to actions, decisions, or conditions that are logical, fair, and sensible under the circumstances.

Public Interest

The welfare or well-being of the general public and society, often considered in legal and policy decisions.