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What are the characteristics of a life assurance policy?

      

List the characteristics of a life assurance policy.

  

Answers


Maurice
(i) Policy can be used as a security for a loan.

(ii) Policy has surrender value.

(iii) Covers risk of death/ incapacitation.

(iv) Is not a contract of indemnity.

(v) Acts as a savings plan.

(vi) Is a long term contract.


maurice.mutuku answered the question on July 29, 2017 at 12:22


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