wager policy

An insurance policy issued to a person who is shown to have no insurable interest in the person or property covered by the policy.

• Wager policies are illegal in most states.

— Also termed gambling policy; graveyard insurance. See insurable interest under INTEREST(2). Cf. interest policy; viatical settlement under SETTLEMENT(3). [Cases: Insurance 1784.]

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词条贡献者

译者玉晶，毕业于世界顶级翻译学院，擅长翻译各种与风险投资相关的法律文件。