[amp_mcq option1=”Mortgage redemption insurance” option2=”Return of premiums” option3=”Increasing term assurance” option4=”Endowment assurance” correct=”option4″]<\/p>\n
The correct answer is D. Endowment assurance.<\/p>\n
Term assurance is a type of life insurance policy that provides coverage for a specified period of time, known as the term. If the insured person dies during the term, the policy pays out a death benefit to the beneficiaries. Term assurance is a relatively simple and affordable type of life insurance, and it is often used as a way to provide financial protection for loved ones in the event of the insured person’s death.<\/p>\n
Mortgage redemption insurance is a type of term assurance that is specifically designed to help repay a mortgage in the event of the insured person’s death. The policy pays out a death benefit that is large enough to cover the remaining balance on the mortgage, which can help to prevent the family from losing their home.<\/p>\n
Return of premiums term assurance is a type of term assurance that returns the premiums that have been paid into the policy if the insured person survives the term. This type of policy can be a good option for people who are looking for a way to save money while also having some life insurance protection.<\/p>\n
Increasing term assurance is a type of term assurance that provides increasing death benefits over time. This type of policy can be a good option for people who want to make sure that their loved ones are always financially protected, even if their income increases over time.<\/p>\n
Endowment assurance is a type of life insurance policy that combines life insurance protection with savings. The policy pays out a death benefit if the insured person dies during the term, and it also pays out a lump sum of money if the insured person survives the term. Endowment assurance can be a good option for people who are looking for a way to save money and also have some life insurance protection.<\/p>\n
However, endowment assurance is not a variant of term assurance. It is a separate type of life insurance policy.<\/p>\n","protected":false},"excerpt":{"rendered":"
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