The correct answer is: A. Convertible Endowment
A convertible endowment policy is a type of life insurance policy that allows the policyholder to convert the policy into a different type of policy, such as a whole life policy or an annuity, at a later date. This can be a good option for someone who cannot temporarily afford to pay high premiums, as they can convert the policy to a lower-premium policy once their financial situation improves.
A convertible money back policy is a type of life insurance policy that pays out a portion of the policy’s death benefit to the policyholder while they are still alive. This can be a good option for someone who wants to have access to some of their money while they are still alive, but it is important to note that the death benefit will be reduced if the policy is surrendered early.
A convertible ULIP is a type of unit-linked insurance plan that allows the policyholder to convert the policy into a different type of policy, such as a whole life policy or an annuity, at a later date. This can be a good option for someone who wants to have the flexibility to change their investment strategy over time.
A convertible whole life policy is a type of life insurance policy that allows the policyholder to convert the policy into a different type of policy, such as a term life policy or an annuity, at a later date. This can be a good option for someone who wants to have the flexibility to change their insurance needs over time.
It is important to note that the specific terms and conditions of each type of policy can vary, so it is important to read the policy carefully before purchasing it.