To contract for a policy of insurance, one must have a(n), or an interest in the nonoccurrence of the risk insured against.
A)policy
B)beneficiary
C)insurable interest
D)rider

Question

Quizplus · Accepted Answer

An insurable interest is a requirement for entering into an insurance contract because it ensures that the person purchasing the policy has a stake in the risk being insured against. This means they would suffer a financial loss or other types of loss if the insured event occurs.

To Contract for a Policy of Insurance, One Must Have