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In an endowment policy, benefits are paid at death or 

Insurance
WAEC 2017

In an endowment policy, benefits are paid at death or 

  • A. a lump sum is paid on maturity
  • B. regular payments are made after maturity
  • C. regular payments are made before maturity
  • D. no payments is made until the death of the insured.
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Correct Answer: Option A
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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WAEC offline past questions - with all answers and explanations in one app - Download for free
Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now