Waec Insurance 2017 Past Questions and Answers

Question 31:

• WAEC 2017

one of the feature of ''with profit whole life assurance'' is that profit is allocated to the policy?

A. As soon as the policy holder dies
B. Up to the date of death of the policyholder
C. When the insurer decides to pay the policyholder
D. As soon as the insured surrenders the policy

Question 32:

• WAEC 2017

The price paid for the purchase of insurance policy is?

A. Premium
B. Claim
C. Renewal
D. Benefit

Question 33:

• WAEC 2017

The period of insurance in non-life insurance contract is usually

A. One month
B. One year
C. Two years
D. Three years

Question 34:

• WAEC 2017

The demand for payment made by the insured to the insurer following occurence of the event insured against is

A. Consideration
B. Gratification
C. Commission
D. Claim

Question 35:

• WAEC 2017

Term insurance benefits are payable

A. Maturity
B. At surrender
C. At death
D. Before maturity