Bean signed an agreement to borrow $ 120,000 from Hazel. To protect Hazel, Bean was to insure his life with Hazel as beneficiary in an amount not less than the unpaid balance of the loan. Bean already had a life insurance policy for $ 200,000 and changed the beneficiary to Hazel to the extent of $ 120,000. At the time Bean died, the balance on the loan was $ 79,000. Hazel claimed the full proceeds of $ 120,000, while Bean’s estate claimed that Hazel had an insurable interest only in $ 79,000. Who is correct?