WAEC Commerce 1996 Question 92

Question 92

Insurance

An insurance policy which benefits one's family only in the event of one's death is known as

  1. A.a comprehensive insurance
  2. B.a whole-life insurance
  3. C.an endowment policy
  4. D.an annuity
  5. E.a third party insurance
Show the answer and explanation

Answer: B (a whole-life insurance)

Explanation

Whole-life assurance pays out only when the assured dies.