"Ordinary endowment policy is a combination of term insurance and pure endowment policy"
Do you agree or not. Explain
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Answer:
If you buy a term plan, the beneficiaries will receive the guaranteed death benefit only in case of your untimely demise; but in case of an endowment plan, you will receive the entire corpus that you have built over time, once the policy tenure is over
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Explanation:
Yes the given statement is true An ordinary endowment policy is a combination of both the insurance as well as the investment made throughout this period. The person will be eligible for both of the amounts at the end of endowment term. So it is that kind of policy that will require more investment but at the end more economic benefit can be taken out of these endowment policies
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