The correct answer is B. Endowment.
An endowment plan is a type of life insurance policy that provides both death benefit and savings component. The savings component grows tax-deferred, and the policy can be used to accumulate a specific sum of money for a future goal, such as retirement or education.
A whole life policy is a type of permanent life insurance that provides both death benefit and cash value. The cash value grows tax-deferred, but it can only be accessed without penalty if the policy is surrendered.
A money back policy is a type of whole life policy that provides a series of payments back to the policyholder over the course of the policy, usually starting after a certain number of years. The payments are typically a percentage of the premiums paid, and they can be used to supplement retirement income or pay for other expenses.
A term insurance policy is a type of life insurance that provides a death benefit for a specified period of time, usually 10, 15, 20, or 30 years. Term insurance is the most affordable type of life insurance, but it does not have a savings component.
In conclusion, an endowment plan is the most suitable type of life insurance for accumulating a specific sum of money.