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A life policy where the insured cannot make claim himself because the payment cannot be...

Insurance
WAEC 2016

A life policy where the insured cannot make claim himself because the payment cannot be made in his life time is

  • A. whole life policy
  • B. annuity policy
  • C. key-man policy
  • D. endowment policy
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Correct Answer: Option A
Explanation

whole life policy is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. it can only be cashed after the death of the insured.


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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709