Abstract
Fraud in life insurance is an enormous problem that affects both consumers and insurance companies. Life insurance fraud is committed by policyholders who deceive insurance companies into giving them benefits they do not deserve. Life insurance fraud may have serious consequences for the insurance industry and policyholders, as well as a significant financial impact on insurance companies by compelling them to pay out bogus claims. The consequence of this fraud on policyholders may result in higher premiums and threaten the insurance market's stability. Policyholders who engage in fraudulent activity risk having their insurance terminated or their claims denied. To fight life insurance fraud, insurance companies must monitor and investigate suspicious fraudulent claims. Policyholders may help combat life insurance fraud by being honest when applying for life insurance policies and reporting any questionable activity to their insurance providers. Fraudulent policyholders may face criminal charges and other legal repercussions. The goal of this study is to look into any fraudulent behaviours that may result from signing a life insurance policy. It will also examine the notion of insurable interest and the concept of insuring another person's life through a life insurance policy.