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JAMB Commerce 2014 Question 16

Question 16

Insurance

Endowment policy in insurance business is an aspect of

  1. A.accident insurance policy.
  2. B.fidelity guarantee insurance policy.
  3. C.motor vehicle insurance policy.
  4. D.life assurance policy.
Show the answer and explanation

Answer: D (life assurance policy.)

Explanation

An endowment policy pays out at a set date or on earlier death, so it is a form of life assurance.