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An insurance that could be effected with profit feauture is

Insurance
WAEC 2018

An insurance that could be effected with profit feauture is

  • A. term insurance
  • B. public liability insurance
  • C. endowment assurance
  • D. personal accident insurance
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Correct Answer: Option C
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. Typical maturities are ten, fifteen or twenty years up to a certain age limit. Some policies also pay out in the case of critical illness.


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