The correct answer is A. Term insurance plan.
A term insurance plan is a pure protection plan that provides coverage for a specified period of time, known as the term. The premium is relatively low, as there is no savings element. If the insured dies during the term, the policy pays out the death benefit to the beneficiaries. If the insured survives the term, the policy expires and there is no payout.
An endowment plan is a type of life insurance that combines life insurance protection with a savings component. The premium is higher than for a term insurance plan, but the policy also builds up a cash value over time. This cash value can be used for a variety of purposes, such as retirement savings, education funding, or a down payment on a home.
A whole life plan is a type of permanent life insurance that provides lifetime coverage. The premium is higher than for a term insurance plan, but the policy also builds up a cash value over time. This cash value can be used for a variety of purposes, such as retirement savings, education funding, or a down payment on a home.
A money back plan is a type of whole life insurance that provides a series of payments back to the insured at regular intervals, such as annually or monthly. These payments are typically made after a certain number of years, or after the insured reaches a certain age. The amount of the payments is based on the amount of the premium paid and the performance of the policy’s investments.
In conclusion, the term insurance plan has the least or no amount of savings element.