sic itur ad astra

Insurable Interest In Life and Health Section 10.  Every person has an insurable interest in the life and health : (a) Of himself , of his spouse and of his children ; (b) Of any person   on whom he depends wholly or in part for education or support ,  or in whom he has a pecuniary interest ; (c) Of any person   under a legal obligation to him  for the payment of money, or  respecting property or services ,  of which death or illness might delay or prevent the performance ; and (d) Of any person   upon whose life any estate or interest vested in him depends. Classes of insurable interests Insurable interest may be: insurable interest in the insured's own life , or  insurable interest in the life of another person.  Where the insurance is on the life of another, the owner of the insurance policy is different from the "subject" of the insurance–the person whose life is insured.  The owner may, in turn, be the beneficiary or th...