The correct answer is: A decreasing term insurance with a decreasing investment element.
Endowment insurance is a type of life insurance that combines life insurance protection with a savings component. The life insurance protection pays out a death benefit if the insured person dies during the policy term, while the savings component grows over time and can be accessed at any time, usually without penalty.
A decreasing term insurance is a type of life insurance policy that provides coverage for a set period of time, such as 10 or 20 years. The death benefit decreases over time, in line with the decreasing level of risk to the insurer.
A decreasing term insurance with a decreasing investment element is a type of endowment insurance that combines the features of a decreasing term insurance with a savings component. The savings component grows over time and can be accessed at any time, usually without penalty. The death benefit decreases over time, in line with the decreasing level of risk to the insurer.
An increasing term insurance is a type of life insurance policy that provides coverage for a set period of time, such as 10 or 20 years. The death benefit increases over time, in line with the increasing level of risk to the insurer.
An increasing term insurance with a decreasing investment element is a type of endowment insurance that combines the features of an increasing term insurance with a savings component. The savings component grows over time and can be accessed at any time, usually without penalty. The death benefit increases over time, in line with the increasing level of risk to the insurer.
A decreasing term insurance with an increasing investment element is not a type of endowment insurance.