It also comes up in issues involving tontines and insurance fraud schemes.
Risks that can be insured by private companies typically share seven common characteristics.
Even if not financially dependent on the other, it is legitimate to insure against the death of a spouse.
[9] Although many insurers will accept policies of cohabiting couples, they could potentially be invalidated.
In recent years, there have been moves to pass clear statutory provisions in this regard, which have not yet borne fruit.