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insurable interest |
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insurable interest n
(Law) Law a financial or other interest in the life or property covered by an insurance contract, without which the contract cannot be enforced ThesaurusLegend: Synonyms Related Words Antonyms
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Fearing the loss of favorable tax treatment and the undermining of insurable interest laws, life insurers are supporting an effort to put the reins on speculative life settlement transactions. Each one depends on whether an insurable interest exists" Panik says. We were fortunate in being a large Michigan employer, because Michigan was one of the first states to codify the idea that a VEBA trust has an insurable interest in its employees. |
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