co owned life policies

by Chuck
(Alberta Canada)

Hello,
is a co owned life insurance policy looked at as insuring your own life or the other owner? Reason being, if you are in fact insuring your own life there is unquestioned insurable interest in you own life, if you are insuring a spouse insurable interest could end with divorce.
thank you

Insurable Interest

Hi Chuck
Once the policy is set up, the insurer will honour the death claim in a case like this.

Hope that helps

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