Insurance WAEC

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

AddThis Website Tools
Sunday

Share
Published by
Sunday
Tags: Insurance

Recent Posts

POL 101 Theory Questions: Health TeamPOL 101 Theory Questions: Health Team

POL 101 Theory Questions: Health Team

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

13 hours ago
POL 101 Theory Questions: Factors Affecting Health in NigeriaPOL 101 Theory Questions: Factors Affecting Health in Nigeria

POL 101 Theory Questions: Factors Affecting Health in Nigeria

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

14 hours ago
POL 101 Theory Questions: Primary Health Care PrinciplesPOL 101 Theory Questions: Primary Health Care Principles

POL 101 Theory Questions: Primary Health Care Principles

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

15 hours ago

POL 101 Theory Questions: Nigeria Healthcare Tiers

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

15 hours ago

PHC 101 Theory Questions: Primary Health Care – Health According To WHO – Referral System

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

16 hours ago

MSX 102 Theory Questions: Mores – Folk Laws – Social Stratification – Social Changes

100 Level Department Of X-Ray Technicians exam questions and detailed answers. Download the answers in…

17 hours ago