An insurance policy is subject to a franchise of N115,000, how much would an insured who suffered of N120,000 recieve as compwnsation

An insurance policy is subject to a franchise of N115,000, how much would an insured who suffered of N120,000 recieve as compwnsation

A N5,000
B N115,000
C N120,000
D N235,000

waec 2018 insurance

The correct answer is A. N5,000

No explanation given

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