Mr Biu has been paying the premium of a straight Life Assurance policy for several...
COMMERCE
WAEC 2013
Mr Biu has been paying the premium of a straight Life Assurance policy for several years. The surrender value of the policy is the amount that
- A. would be paid to mr Biu if he should discontinue with the policy
- B. would be paid to mr Biu's beneficiary if he dies
- C. is paid annually by mr Biu to the insurance company
- D. the amount mr Biu has paid plus interest
Correct Answer: A. would be paid to mr Biu if he should discontinue with the policy
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