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CGA Membership Form California Gymkhana Association

CGA Membership Form California Gymkhana Association

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question one which of the following statements accurately describes the concept of insurable interest in life insurance a insurable interest is only required at the time of policy issuance and does not need to be maintained after that b insurable interest exists when the policy holder stands to lose financially if the insured individual dies C insurable interest is irrelevant in life insurance because all life insurance policies pay a benefit upon death D insurable interest must be established in all Insurance transactions including Property and Casualty Insurance but is not relevant for life insurance answer be insurable interest exists when the policy holder stands to lose financially if the insured individual dies explanation insurable interest is a fundamental principle in life insurance that ensures the policy holder has a legitimate stake in the life of the insured ing to California insurance code s SS 10,110 point1 insurable interest must exist at the time of the policy issuance

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