Which of the following is pure life insurance with a savings element built in?

Question

Quizplus · Accepted Answer

Endowment life insurance is designed to provide a death benefit to beneficiaries if the policyholder dies during the policy term, but also includes a savings element. If the policyholder outlives the policy term, they receive the savings portion of the policy as a lump sum payout. This combines both life insurance and a savings element, making it the best choice for this question. Term life insurance provides pure life insurance coverage without any savings or investment component, universal life and variable universal life insurance offer a savings or investment component but also include a life insurance element, making them not pure life insurance policies.

Which of the Following Is Pure Life Insurance with a Savings