mr. Thomas assured his life for the sum of N300,000.00 for a period of 20 years. The premium payable being N2,200.00 monthly.due to loss of employment, thomas was not able to pay the premium in the last 3 months .
what is the sum assured for the policy
- N26,400
- N44,000
- N300,000
-
N528,000
The correct answer is: D
Explanation
2200 * 12 months = 26,400 (yearly premium)
26,400 * 20years = 528,000