Statutory conditions – insurable interest
199Without restricting the meaning of the expression “insurable interest”, a person has an insurable interest in his own life and well-being and in the life and well-being of
(a)
his child or grandchild,
(c)
any person upon whom he is wholly or in part dependent for, or from whom he is receiving, support or education,
(d)
his officer or employee, and
(e)
any person in whom he has a pecuniary interest.