insured more than the amount of the policy. In this way, insurance can compensate for loss. A company may have an insurable interest in a President/CEO or other employee with special knowledge and skills. A creditor has an insurable interest in the life of a debtor, up to the amount of the loan. A person who is financially dependent on a second person has an insurable interest in the life of that second person. Legal guidelines have been established in many jurisdictions which establish the kinds of family relationships for which an insurable interest exists. The insurable interest of family members is assumed to be emotional as well as financial. The law allows insurable interest on the presumption that a personal connection makes the family member more valuable alive than dead. Thus, close relatives are assumed to have an insurable interest in the lives of those relatives, but more distant relatives, such as cousins and in-laws cannot buy insurance of the lives of others related by these connections. A married person has an insurable interest in the life of their spouse, and minor children have an insurable interest in their parents. A person is also presumed to have an insurable interest in his or her own life. Broadly speaking, without an immediate family or a relationship that is recognized by law there is no insurable interest. United Kingdom A person is presumed to have an insurable interest in his or her own life, preferring to be alive and in good health rather than being sick, injured or dead. The unlimited interest extends to the life of spouses (and, since 2004, civil partners), even if there is no financial dependency. Law in the United Kingdom does not recognize other classes of so-called 'natural affection' however, thus: Parents have no interest in the lives of their children Siblings have no interest in the lives of their fellow siblings Children have no interest in the lives of their parents (Scotland only) No insurable interest is recognized for cohabiting couples. Although many insurers will accept such policies, they could potentially be invalidated because they have not been tested in court. In recent years, there have been moves to pass clear statutory provisions in this regard, which have not yet borne fruit. In 2008, the Scottish Law Commission and the Law Commission of England and Wales tentatively proposed some reforms to the existing law, hoping