General Studies · Insurance
Which of the following statements is correct regarding a standard 'Endowment Policy' in life insurance?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It carries no survival benefits, and the maturity amount is given only if the insurer files bankruptcy.
- 2It covers the insured exclusively for the whole of life, and the sum assured is paid only after death.
- 3The insured receives the designated sum assured as a lump sum upon successfully surviving until the expiry of the policy term.✓
- 4The policyholder receives regular financial payouts at fixed short intervals during the active policy term.
Correct answer
The insured receives the designated sum assured as a lump sum upon successfully surviving until the expiry of the policy term.
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