Stan and Joe have been friends since they met in the sixth grade 30 years ago. Stan owes Joe $500,000. In order to manage the risk of Stan dying prior to the payment of the debt, Joe, a creditor, wants to insure the life of Stan. Does Joe have an insurable interest in Stan's life?

Answer rating: 100% (QA)

Yes Joe has an insurable interest in Stans life Insurable intere... View the full answer