INSURANCE CONTRACTS ACT 1984 - SECT 18 Insurable interest not required
INSURANCE CONTRACTS ACT 1984 - SECT 18
Insurable interest not required(a) a contract of life insurance; or
(b) a contract that provides for the payment of money on the death of a person by sickness or accident.
(2) A contract to which this section applies is not void by
reason only that the insured did not have, at the time when the contract was
entered into, an interest in the subject - matter of the contract.