An insured arranges for his premium payment to cease at the age of 70. This...

Insurance

WAEC 2018

An insured arranges for his premium payment to cease at the age of 70. This is a whole life policy with

A. indeterminate premium payment
B. limited premium payment
C. single premium payment
D. modified premium payment

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Correct Answer: Option B

Explanation

A limited premium payment plan is a plan where you paythe premium for a shorter span of time and enjoy the benefits of an insurance cover for a long time.

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An insured arranges for his premium payment to cease at the age of 70. This...

Correct Answer: Option B

Explanation

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