Multiple choice general knowledge

______ products provides lump sum amount when the policy matures

  1. Pension

  2. Annuity

  3. Insurance

  4. None of the above

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Insurance products like endowment plans or whole life policies pay a lump sum when the policy matures, unlike annuities that provide periodic income. Pension plans are designed to provide regular payments during retirement, not a one-time payout.