In which of the following cases is insurable interest not present?

A. A person insuring his own life

B. A father taking out a life policy on the life of his son

C. A person insuring his colleague

D. An employer taking a life insurance policy on his employees

Answer: Option C

Solution(By Examveda Team)

For purposes of life insurance, everyone is considered to have an insurable interest in their own lives as well as the lives of their spouses and dependents. Employer also has an insurable interest on the life of his employees. Insurable interest is not present in the life of a colleague.