A life assurance policy that pays the sum assured only if the assured dies within a specified period, but pays nothing if the assured survives, is called
Awhole life policy
Bendowment policy
Cterm assurance policyCORRECT
Dannuity policy
GCECommerceInsurance2019
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Why the answer is C, and why the others tempt you.
A term assurance policy provides cover for a specific period and pays the sum assured only if the assured dies within that period. If the assured survives the term, no benefit is paid, making it the cheapest form of life assurance. It is purely a protection policy with no savings element.
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