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Which of the following statements about an insurable interest in life insurance is (are) true? I. It is required of any person named as beneficiary.

Which of the following statements about an insurable interest in life insurance is (are) true? I. It is required of any person named as beneficiary. II. It must exist at the time the life insurance is purchased. OI only Oll only both I and II neither I nor 11 Which of the following statements about an insurable interest in life insurance is (are) true? 1. It is required of any person named as beneficiary. II. It must exist at the time the life insurance is purchased. OT only Oll only both I and 11 neither I nor 11

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