WAEC - Insurance (2018 - No. 45)
An insurance that could be effected with profit feauture is
term insurance
public liability insurance
endowment assurance
personal accident insurance
Magyarázat
An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. Typical maturities are ten, fifteen or twenty years up to a certain age limit. Some policies also pay out in the case of critical illness.