Zigner
Well-Known Member
I would agree that there may have been (and likely was) an enforceable agreement, but that's an issue for a court to decide (if the insurance company should decide to pursue it). If the court concludes that there was, then there's no question of an insurable interest, but if the court concludes there wasn't, then there is no insurable interest.I disagree. Whether or not the promissory note is enforceable as written, it's pretty clear that there was an enforceable loan agreement, and the creditor under such an agreement unquestionably has an insurable interest in the life of the debtor.
That's why I used the word "may"