In which policy, if the policyholder survives till the end of this period, the risk cover lapses, and no insurance benefit payment is made to him/her?

Solution (By Examveda Team)

The correct answer is C: Term Insurance Plans.
Let's break down why:
Term Insurance Plans: These plans offer coverage for a specific term or period.
If the policyholder survives that period, the policy expires and there's no payout.
Think of it like renting insurance; you pay for the protection during the rental period.

Money Back Plans: These plans provide periodic payouts during the policy term and a lump sum at maturity if the policyholder survives.

Endowment Plans: These plans offer a lump sum at maturity if the policyholder survives the term, along with a death benefit if the policyholder dies during the term.

Unit-Linked Insurance Plans (ULIPs): These plans combine insurance with investment.
A portion of the premium goes towards life insurance, and the rest is invested in funds chosen by the policyholder.
They provide a maturity benefit based on the market value of the investments.

Therefore, only Term Insurance Plans fit the description in the question where the risk cover lapses and no payment is made if the policyholder survives the term.