In what scenario might individuals have insurable interest in each other's lives without an economic interest?

Individuals may have insurable interest in each other's lives based on their emotional connection and the legal recognition of their partnership. In the case of marriage partners, the bond formed is not strictly economic; instead, it encompasses a deep personal relationship where spouses depend on one another for emotional, social, and sometimes financial support. This emotional and familial connection is recognized by insurance law, which allows one spouse to insure the life of the other, demonstrating that they have legitimate interest in one another's well-being.

Other scenarios, such as being business partners, friends, or relatives, can involve varying degrees of economic or personal interests, but the strongest and most universally recognized principle of insurable interest without a direct economic stake is found in the context of marriage. Business partners generally have a financial interest in each other due to the nature of their shared enterprise. Friends might care for each other, but this does not usually establish a recognized insurable interest. Similarly, relatives may have emotional bonds, but insurance regulations often focus on closer ties, such as those present in a marriage arrangement, allowing for coverage without necessarily relying on economic factors.