NECO Commerce 2024 Objective — Question 29
Question 29 of 50 from the National Examinations Council (NECO) Commerce 2024 Objective paper, with the correct answer and a full explanation.
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The amount an assured receives if he discontinues a life policy is
- A. A. surrender valueCorrect
- B. B. sum assured
- C. C. net value
- D. D. indemnity
Explanation
Surrender value is the amount paid to a policyholder who discontinues a life insurance policy before maturity.
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