Insurance Awareness - Life Insurance - LIC
Which of the following is NOT a typical characteristic of an endowment insurance policy?
Which of the following is NOT a typical characteristic of an endowment insurance policy?
medium Q6 of 15
Step-by-Step Solution
Step 1: Identify characteristics of endowment policies
Endowment policies provide life cover, pay lump sum on maturity or death, and may declare bonuses. Periodic survival benefits are typical of money-back policies, not endowment.Final Answer:
Pays periodic survival benefits throughout the policy term → Option CQuick Check:
Pays periodic survival benefits throughout the policy term is not a feature of endowment policies, making it the correct choice.
Quick Trick: Periodic survival benefits = money-back policies, not endowment.
Common Mistakes:
MISTAKES- Confusing money-back features with endowment policies.
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