Question

How are Endowment insurances useful for saving money for retirement?

a.

By providing increasing term insurance coverage

b.

By offering decreasing term insurance coverage

c.

By providing a lump sum payment at maturity

d.

By providing monthly annuity payments

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).By providing a lump sum payment at maturity Explanation:Endowment insurances are useful for saving money for retirement by providing a lump sum payment at maturity.

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Q. How are Endowment insurances useful for saving money for retirement?
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