Questions: Question 19 According to life insurance contract law, insurable interest exists when any business relationship exists at the time of application at the time of death only when determined by a judge

The answer is B: at the time of application.

Explanation for each option:

A. When any business relationship exists: This is incorrect. While a business relationship can sometimes create an insurable interest, it is not a blanket rule that applies to all life insurance contracts. Insurable interest must be specifically established and is not automatically assumed by the existence of a business relationship.

B. At the time of application: This is correct. Insurable interest must exist at the time the life insurance policy is applied for. This means that the person purchasing the insurance must have a legitimate interest in the continued life of the insured at the time the policy is issued.

C. At the time of death: This is incorrect. Insurable interest does not need to exist at the time of the insured's death. It is only required at the time of the application for the policy.

D. Only when determined by a judge: This is incorrect. While a judge can determine the existence of insurable interest in legal disputes, insurable interest is typically established based on the relationship between the policyholder and the insured at the time of application, without the need for judicial intervention.

In summary, insurable interest in life insurance contract law must exist at the time of application.