(i) A person has an unlimited insurable interest in his own life.

(ii) A husband has an insurable interest in the life of his wife and a wife in the life of her husband.

(iii) A creditor has an insurable interest in the life of the debtor, to the extent of the debt.

(iv) A servant employed for a specific period has insurable interest in the life of his employer.

(v) A surety has an insurable interest in the life of his co-surety and principal debtor.

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