Waec Insurance Past Questions
Question 141
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 .
what is the term used for the amount payable to mr. Thomas if he chooses to discontinue with the contract
- A. premium return
- B. reinstatement return
- C. terminal claim
- D. surrender value
Question 142
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 .
what is the term for the period he will be allowed to reinstate the contract
- A. cooling off period
- B. repayments
- C. days of grace
- D. lays days
Question 143
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 .
what is the sum assured for the policy
- A. N26,400
- B. N44,000
- C. N300,000
- D. N528,000
