Endowment assurance has no saving element
Whole Life Plan has no saving element at all
Term Insurance has little or no saving element
Money Back plan has no savings element
✅ The correct answer is C.
Term Insurance has little or no saving element. In term policies if you stop paying the premium the risk cover ceases and the policy ends. Nothing is payable to you as there is no savings element in the policy.
Term Insurance has little or no saving element. In term policies if you stop paying the premium the risk cover ceases and the policy ends. Nothing is payable to you as there is no savings element in the policy.