WAEC - Insurance (2017 - No. 31)
A life policy that pays the sum assured if the policy holder dies anytime within the policy period is
term assurance
pure endowment
whole life insurance
personal accident insurance
ব্যাখ্যা
A term assurance policy will be set up to last for a certain period of time (usually a specific number of years or until you reach a certain age): this is known as the term of the policy. A payment will only be made in the event of your death during that period.