Insurable interest in life insurance is the legal requirement that you must have a recognized financial or emotional stake in the life of the insured to purchase a policy and claim benefits. Without it, a life insurance contract can be invalid. This guide explains who qualifies as having insurable interest, how it applies to spouses, parents, children, employers, and business partners, and what evidence insurers typically require. The following reference tables and practical examples help you determine whether you have insurable interest and how to document it for underwriting and claims.
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