JAMB Commerce 2014 Objective — Question 16

Question 16 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2014 Objective paper, with the correct answer and a full explanation.

Endowment policy in insurance business is an aspect of

A. Accident Insurance policy
B. Fidelity Guarantee Insurance Policy
C. Motor Vehicle Insurance Policy
D. Life AssuranceCorrect

Explanation

An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death.

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