Question on: JAMB Commerce - 2012
A person who undertakes life insurance is said to be an
A
insurer
B
assurer
C
assured
D
insured
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Correct Option: D
The person undertaking life insurance is the person whose life is being insured, thus the correct term is the assured.
- Assured: The person whose life is insured.
- Insurer/Assurer: The insurance company that provides the policy.
- Insured: This term is synonymous with assured.
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