mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, thomas was not able to pay the premium in the last 3 months .
what is the sum assured for the policy
what is the sum assured for the policy
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
Correct Answer: Option D
Explanation:
2200 * 12 months = 26,400 (yearly premium)
26,400 * 20years = 528,000
2200 * 12 months = 26,400 (yearly premium)
26,400 * 20years = 528,000