All of the following have an insurable interest in property being insured, except one. Pick the exception.
Understand the Problem
The question is asking which of the listed options does not have an insurable interest in the property being insured. It requires a clear understanding of the roles of owner, beneficiary, mortgagee, and bailee in insurance contexts.
Answer
Beneficiary.
The final answer is beneficiary.
Answer for screen readers
The final answer is beneficiary.
More Information
A beneficiary typically has an interest in life insurance, where they stand to gain financially upon the policyholder's death. In property insurance, the insurable interest lies with those directly linked to the property's ownership or financial responsibility.
Tips
Avoid confusing the roles of beneficiaries in different types of insurance.
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