Question: Susan and Ann close friends took out insurance policies on
Susan and Ann, close friends, took out insurance policies on each other’s life, each being the beneficiary of the other’s policy. When Susan died, the insurance company refused to pay the proceeds to Ann, claiming that she did not have an insurable interest in Susan’s life. Was the insurance company correct?
Relevant QuestionsWhat ethical considerations might arise for a sales representative who is working with the purchasing department of a large corporation interested in buying several computers? How should she or he handle these ...Candidates running for the office of city clerk petitioned the city manager to hang political posters on city stop signs, lamp posts, and utility poles to promote their election but discovered that a city ordinance ...Russello was a member of an arson ring consisting of arsonists, insurance adjusters, and property owners. A group member would buy a building, the arsonists would burn it, and the insurance adjusters would help the owner ...Garth applied for a life insurance policy. On the application, he stated “none” in response to a question asking whether he had any hobbies, even though he was a famous stamp collector. When he died, the insurance ...When Fima applied to Paul Revere Life Insurance Co. for a disability policy, he overstated his income by a large amount. Three years after the policy was issued, Fima became disabled and filed a claim for policy benefits. ...
Post your question