The person named to recieve the life assurance proceeds after the date of the life assured is?

Assessment: WAEC SSCE - Insurance - 2016 (Objective) Subject: Insurance

Question 1 Report

The person named to recieve the life assurance proceeds after the date of the life assured is?

Answer Details
The person named to receive the life assurance proceeds after the death of the life assured is called the beneficiary. The beneficiary is the person designated by the policy owner to receive the death benefit in the event of the insured's death. The beneficiary could be a family member, a friend, a business partner or a charitable organization. The policy owner has the flexibility to change the beneficiary at any time during the policy term.
View Answer

Related Questions

1

A term insurance policy is cheap because?
2

An attachment to an insurance policy that modifies the policy is?
3

when a policy is cancelled before its expiry date, what is owed to the insured is
4

which of the following professionals assist in determining the actual cost of a loss to be paid by an insurer on a claim
5

An event sufficiently related to a legally recognizable injury to be the cause of that injury is?
6

peril in insurance means
7

The body charged with the responsibility to promote and uphold universally accepted standards in insurance business
8

which of the following benefits will be covered under personal accident insurance

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