Q290
The insurable interest of a mortgagor in the mortgage’s life is equal to the amount of
A.
Original loan
AnswerB.
Outstanding loan plus interest
C.
Outstanding loan
D.
Installment due to be repaid within the next one year
Answer: Option A
Solution
Answer: Option A
Solution:
The insurable interest of a mortgagor in the mortgage's life is equal to the amount of original loan.