Question
Accountancy Question on Basics of Accounting
The life insurance that runs only for a limited period or upto a particular age not exceeding the age of 70 years is known as:
A
Endowment Policy
B
limited payment life policy
C
Joint life policy
D
Annuity policy
Answer
Endowment Policy
Explanation
Solution
The correct answer is (A) : Endowment Policy.