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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.

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