Which of the following is an example of when a person acquires an insurable interest?
A) Title
B) Consideration
C) Agreement
D) Meeting of the minds

Question

Quizplus · Accepted Answer

Insurable interest is a requirement in insurance policies that means the person buying the insurance must have a direct interest in the object or life being insured. This interest often comes from ownership, possession, or a direct relationship to the subject of the insurance, which is why "Title" (ownership) is the correct answer. Ownership gives the policyholder a legal or equitable interest in the insured item or person, making it possible to insure it.

Which of the Following Is an Example of When a Person