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The type of life insurance policy where the premium goes towards the policy with no...

Insurance
WAEC 2017

The type of life insurance policy where the premium goes towards the policy with no interest element is

  • A. endowment policy
  • B. whole life insurance
  • C. annuity policy
  • D. term insurance
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Correct Answer: Option A
Explanation

Endowment life insurance policies do not have investment risk or interest rate risk.  an endowment policy does not earn any interest throughout the term

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