COLOMBIAN COMMERCIAL CODE CHAPTER III Personal Insurance Section I Principles common to personal insurance Section 1137 .- Everyone has an insurable interest: 1. In his own life; 2. The people who can legally claim maintenance, and 3. In those whose death or disability can rig economic loss, although this is not susceptible to some evaluation. In individual insurance on the life of a third party, requires the written consent of the insured, stating the value of insurance and the recipient. The adult children give their consent personally and through their legal representatives. In the absence of interest or consent required to the wording of paragraphs above, or if subscription on the life of an incompetent all, the contract shall not take effect and the insurer must repay the premiums paid. You can only retain the amount of your expenses if you have acted in good faith. Section 1138 .- In personal insurance, the value of the interest will not...