The correct answer is D. Bonus benefit.
Endowment assurance is a type of life insurance that provides a lump sum payment upon the death of the insured or at the end of a specified term, whichever comes first. It is a combination of life insurance and savings, and it can be used to provide financial protection for your loved ones in the event of your death, or to fund a retirement goal.
Endowment assurance does not have a bonus benefit, which is a payment that is made in addition to the death benefit if the insured survives for a certain period of time. This type of benefit is often found in whole life insurance policies, but it is not typically included in endowment assurance policies.
The other options are all features of endowment assurance. A savings benefit is a payment that is made to the policyholder at the end of the policy term, regardless of whether the insured is alive or deceased. A death benefit is a payment that is made to the beneficiary of the policy in the event of the insured’s death. A survival benefit is a payment that is made to the policyholder if they survive for a certain period of time.