Ted,one of the partners in a two-man consulting partnership with Sam,is told by his insurance company that he does not have an insurable interest on the life of his partner,Sam.Generally,the insurance company is correct to deny Ted.

Question

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In a business partnership, each partner typically has an insurable interest in the life of the other partner(s) because the death of one can have a significant financial impact on the survivability and profitability of the business.

Ted,one of the Partners in a Two-Man Consulting Partnership with Sam,is