Sally visited the Villa Insurance Co. in order to insure her house against fire. She has to pay a sum of $100 a month to insure her house for a year, in order to seek benefits of up to $20,000 during the year against any fire that takes place in her house. The monthly payment that Sally is supposed to pay is known as the:
A) rent.
B) perils.
C) premium.
D) insurance fee.
E) sum assured.
Correct Answer:
Verified
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