A company purchased a $1 million life insurance policy on on…
A company purchased a $1 million life insurance policy on one of its key executives in January (with consent). At that time, the executive was crucial to the company’s success. By June, the executive has been promoted to a different department with minimal impact on the company’s operations. Later, the executive had a serious injury and died in July. The company submits a $1 million claim. Will the insurance company pay for the claim?