Insurance Awareness - Life Insurance - LIC
Which life insurance policy pays periodic survival benefits during the policy term along with the sum assured on death or maturity?
Which life insurance policy pays periodic survival benefits during the policy term along with the sum assured on death or maturity?
easy Q12 of 15
Step-by-Step Solution
Step 1: Understand policy features
Money-back policies provide periodic survival benefits during the policy term and pay the sum assured on death or maturity.Final Answer:
Money-back Policy → Option CQuick Check:
Term Insurance offers no survival benefits; Endowment pays lump sum at maturity; Whole Life covers lifetime, so Money-back matches the description.
Quick Trick: Money-back = periodic payouts plus maturity/death benefit.
Common Mistakes:
MISTAKES- Mistaking Endowment plans for Money-back policies due to both having maturity benefits.
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