Insurance WAEC

The demand for payment made by the insured to the insurer following the occurrence of the event insured against is?

A. consideration
B. gratification
C. commission
D. claim

Correct Answer: Option D

D. claim

Explanation

An insurance claim is a formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event. The insurance company validates the claim and, once approved, issues payment to the insured or an approved interested party on behalf of the insured.

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