[Solved] Which of the following statements about the premium payment term in endowment policies is CORRECT? — Ans: Premiums are payable throughout the policy term or for a limited period as per... | Insurance Awareness

Insurance Awareness - Life Insurance - LIC

Which of the following statements about the premium payment term in endowment policies is CORRECT?

APremiums must be paid only once at the start of the policy

BPremiums are payable throughout the policy term or for a limited period as per the policy contract

CPremiums are paid only if the insured survives the policy term

DPremiums are optional and can be skipped without affecting the policy

Step-by-Step Solution

Step 1: Understand premium payment terms
Endowment policies require premiums to be paid either throughout the policy term or for a limited premium payment period as specified in the contract.
Final Answer:
Premiums are payable throughout the policy term or for a limited period as per the policy contract → Option B
Quick Check:
Premiums are payable throughout = correct choice ✅

Quick Trick: Premium payment terms vary but are never optional or survival-contingent.

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Which of the following statements about the premium payment term in endowment policies is CORRECT?