which of the folloing is an example of life insurance
- third party policy
- comprehensive policy
- fidelity guaranteed policy
-
endowment policy
The correct answer is: 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.