Question

A life policy under which a percentage of sum assured is paid on survival every fixed interval can be every 5 or 10 years is called:

Answer 1

Step-by-step explanation:

12-Apr-2005 · Pay the premium once and for all and the policy will stay in force till the end ... By and large, it is a percentage of the sum assured. ... They are called survival benefits

Answer 2

money back plan.

Money Back plan is the type of saving plan. where, we get survival benefit along with the maturity benefit & bonus.

Liquidity:

• This is a superiority of the plan as it pays the certain amount of  sum assured at the regular intervals during  policy duration. This, in turn, provides us the required liquidity & us may plan our finances better to meet different goals during our life.

Provides risk-free returns:

• If risk taking is not your cup of tea, then Money back plan is the ideal choice for you people. As if there is no risk involved, one can opt for best money back policy.

Features of Money Back policy:

• These are low-risk savings options which provides insurance coverage also.

• It is often referred as the source of a regular income in  form of Survival Benefits.

• In case of the policyholder’s demise during  policy term period,  entire sum assured is paid to nominee.

Hence the answer is money back plan.

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