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Question
Amy is a partner in the software design firm Broadband, Inc., which obtains key-person insurance on Amy's life in the amount of $1 million from Delta Insurance Company. Amy quits Broadband to join Custom Applications, Inc., a different software firm. Amy dies. Delta must pay the $1 million toa. Amy's spouse Ed because he had an insurable interest in Amy's life at all times.
b. Broadband because it had an insurable interest in Amy's life when it obtained the policy.
c. Customer Applications because it had an insurable interest in Amy's life when she died.
d. no one because Amy was not working for Broadband when she died.
Answer
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