New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    Under which type of plans, the sum assured is paid at

    the end of the term as maturity or on the death of the insured during the term of the policy?
    A Term insurance Correct Answer Incorrect Answer
    B Endowment assurance Correct Answer Incorrect Answer
    C Whole life insurance Correct Answer Incorrect Answer
    D Unit Linked Insurance Plans Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Endowment assurance: Under this type of plans, the sum assured is paid at the end of the term as maturity or on the death of the insured during the term of the policy. This is available as With Profits (Bonus) or Without Profits type.

    Practice Next