What is the sum assured for the policy?

Mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, Thomas was not able to pay the premium in the last 3 months.

A. N26,400
B. N44,000
C. N300,000
D. N528,000

Correct Answer: Option D

D. N528,000

Explanation

2200 * 12 months = 26,400 (yearly premium)

26,400 * 20years = 528,000

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