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Doctors Medicines MCQs Q&A

  1. It has a death benefit component only
  2. It has a survival benefit component only
  3. It has both a death benefit as well as a survival component
  4. It is similar to a term plan
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1 Answers

Answer: Option 3

Endowment assurance plan has both a death benefit as well as a survival component. Endowment plan is a life insurance policy which provides you with a combination of both i.e.: an insurance cover, as well as an savings plan. It helps you in saving regularly over a specific period of time, so that you are able to get a lump sum amount on policy maturity, if the policyholder survives the policy term.

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