[Solved] Mr. Ramesh is Married, and wants to buy a Life Assurance Cover on His Friend's Life. Find Out, if He will be Able to do so.

Q.	Mr. Ramesh is Married, and wants to buy a Life Assurance Cover on His Friend's Life. Find Out, if He will be Able to do so.
A.	Yes, Mr. Ramesh can buy Life Assurance on His Friend's Life.
B.	No, Mr. Ramesh cannot buy Life Assurance on His Friend's Life, because, He is Married.
C.	No, Mr. Ramesh cannot buy Life Assurance on His Friend's Life, because, there is No Insurable Interest, Present.
D.	No, Mr. Ramesh cannot buy Life Assurance on His Friend's Life, because of the Principle of Caveat Emptor.
Answer» C. No, Mr. Ramesh cannot buy Life Assurance on His Friend's Life, because, there is No Insurable Interest, Present.

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Insurance Exam (LIFE)

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