Insurable Interest
The Cyclopedic Law Dictionary · Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
The Cyclopedic Law Dictionary
Such an interest in a subject of insurance as will entitle the person possessing it to obtain insurance. In the law of fire insurance, an insurable interest may be defined as such an interest as would entail a pecuniary loss were the, property destroyed.
62 N. Y. 47.
In the law of life insurance, an insurable interest in the life of another is such a relation that the death of such person would entail pecuniary loss. Any relationship resulting in dependence, or giving a right to service or support, gives an insurable interest to the person benefited.
12 Mass. 115; 57 Vt. 496; 66 Mo. 63.
A creditor has an insurable interest in the life of his debtor.
23 Conn. 244.