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Endowment policy in insurance business is an aspect of

Commerce
JAMB 2014

Endowment policy in insurance business is an aspect of

  • A. accident insurance policy
  • B. fidelity guarantee insurance policy
  • C. motor vehicle insurance policy
  • D. life assurance policy
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Correct Answer: Option D
Explanation

An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. 

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