which of the folloing is an example of life insurance
-
A.
third party policy -
B.
comprehensive policy -
C.
fidelity guaranteed policy -
D.
endowment policy
Correct Answer: Option D
Explanation
The endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its ‘maturity’) or on death. Typical maturities are ten, fifteen or twenty years up to a certain age limit. Some policies also pay out in the case of critical illness.