Life assurance premium is determined by the assured's

Assessment: WAEC SSCE - Commerce - 2009 (Objective) Subject: Commerce

Question 1 Report

Life assurance premium is determined by the assured's
Answer Details
Life assurance premium is determined by the assured's age. This is because the risk of death increases as one grows older, and thus the premium for life assurance increases with age. Other factors that may influence the premium include the amount of coverage, the term of the policy, and the individual's health and lifestyle habits. However, the age of the assured is one of the most significant factors that insurance companies use to calculate the premium for a life assurance policy.
Read lesson note on Commerce (JAMB)
View Answer

Related Questions

1

Which of the following occupations come under the extractive industry? i. Cattle-rearing,lumbering,farming ii. Mining, quarrying, hunting iii.Ship building, ...
2

When an order cheque is endorsed it becomes a
3

Which of the following is sent by a supplier who does not want to sell on credit?
4

Which of the following is not a contract of indemnity
5

Life assurance premium is determined by the assured's
6

A stale cheque is one on which the date for payment is
7

A person who invented a new machine for making beverages may protect his exclusive right by
8

Retail outlets that have identical store design, layout and stock display are

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning