The correct answer is C. Term Insurance Plans.
In a term insurance plan, the policyholder pays a premium for a specified period of time, known as the term. If the policyholder dies during the term, the insurer pays out a death benefit to the beneficiaries. If the policyholder survives the term, the policy ends and no benefits are paid.
Money Back Plans are a type of whole life insurance policy that provides a series of payments to the policyholder at regular intervals, usually every year or five years. The payments are made regardless of whether the policyholder dies during the term of the policy.
Endowment Plans are a type of whole life insurance policy that provides a lump sum payment to the policyholder at the end of the term, regardless of whether the policyholder dies during the term. The policyholder can also choose to receive a series of payments instead of a lump sum.
Unit-linked insurance plans (ULIPs) are a type of life insurance policy that combines life insurance with investment features. The policyholder invests in a fund of units, and the value of the policy depends on the performance of the fund. The policyholder can also choose to withdraw money from the fund, subject to certain restrictions.
In conclusion, the only type of policy in which the risk cover lapses and no insurance benefit payment is made to the policyholder if the policyholder survives till the end of the policy term is a term insurance plan.