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WAEC Commerce 2020 Question 31

Question 31

Insurance

When a company insures the lives of all its employees collectively, the policy is

  1. A.accident insurance.
  2. B.fleet insurance.
  3. C.fidelity guarantee insurance.
  4. D.group insurance.
Show the answer and explanation

Answer: D (group insurance.)

Explanation

Covering all employees under one policy is group (life) insurance.