Insurance WAEC

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

A. whole life policy
B. annuity policy
C. key-man policy
D. endowment policy

Correct Answer: Option A

A. whole life policy

Explanation

Whole life policy: Is a life insurance policy that 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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