Post Utme Afe Babalola University 2020 Commerce Question 29

Practice objective / multiple choice question 29 from the 2020 Post Utme Afe Babalola University Commerce examination.

Post Utme Afe Babalola University 2020 Commerce Objective / Multiple Choice
Question 29 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2020 • COMMERCE • objective

A life insurance policy provides a lump sum payment to the policyholder's beneficiaries in the event of their death. What is the primary purpose of this payment?

Answer Options

A. To cover funeral expenses and other immediate costs
Correct Answer B. To provide a source of income for the policyholder's dependents
C. To pay off outstanding debts and loans
D. To fund the policyholder's retirement or other long-term goals
Correct Answer
B
Correct Option:
To provide a source of income for the policyholder's dependents

About This Question

This is Post Utme Afe Babalola University 2020 Commerce Question 29. It is one of the objective questions from the 2020 Post Utme Afe Babalola University Commerce examination.

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