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Under what form of life insurance policy is premium paid over an agreed number of...

Commerce
NECO 2001
Under what form of life insurance policy is premium paid over an agreed number of years and the sum assured is paid either at the end of that specified time or when the policy holder dies, whichever comes first?
  • A. annuity
  • B. deterred annuity
  • C. endowment
  • D. term
  • E. whole life
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Correct Answer: Option C
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