The correct answer is C. Endowment assurance plan has both a death benefit as well as a survival component.
An endowment assurance plan is a type of life insurance policy that provides a death benefit if the insured person dies during the policy term, as well as a maturity benefit if the insured person survives the policy term. The maturity benefit can be used for retirement, education, or other purposes.
Option A is incorrect because endowment assurance plans also have a survival benefit component.
Option B is incorrect because endowment assurance plans also have a death benefit component.
Option D is incorrect because endowment assurance plans are not similar to term plans. Term plans only provide a death benefit, while endowment assurance plans provide both a death benefit and a survival benefit.