one of the feature of ''with profit whole life assurance'' is that profit is allocated to the policy?

  • A as soon as the policy holder dies
  • B up to the date of death of the policyholder
  • C when the insurer decides to pay the policyholder
  • D as soon as the insured surrenders the policy
waec 2017insurance

The correct answer is B. up to the date of death of the policyholder

What is a Whole Life policy? A Whole Life policy will pay out a lump sum benefit when the life assured dies. This type of Whole of Life policy provides cover for the rest of your life.

Whole-of-life policies payout a lump sum when you die, whenever that is. The size of the payout depends on your policy. With some policies, you can stop paying once you reach a certain age, but with others you have to make monthly or annual payments right up until you die.

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