Multiple choice

In which of the following life insurance policies is the assured sum payable after the assured attains a certain age in installments?

  1. Whole life policy

  2. Endowment life assurance policy

  3. Joint life policy

  4. Annuity policy

  5. Children’s endowment policy

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

This is the correct choice. Under this policy the assured sum or policy money is payable after the assured attains a certain age in installments, such as monthly, quarterly, annual, etc. The premium is paid in installments over a certain period or single premium may be paid by the assured. This is useful to those who prefer a regular income after a certain age.