QFA Life Assurance Practice Questions - QFA Life Assurance (LIA IOB, Ireland) Exam

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A client wishes to take out a life assurance policy on their business partner to cover the potential financial loss of their partner's death. For this contract to be legally valid in Ireland, when must insurable interest exist?

Only at the inception of the contract Only at the time of the claim (death of the life assured) Both at inception and continuously throughout the term of the policy Both at inception and at the time of the claim

Correct Answer:

Only at the inception of the contract

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