Which of the below is an example of an endowment assurance plan?

A. Mortgage Redemption Plan

B. Credit Life Insurance Plan

C. Money Back Plan

D. Whole Life Plan

Answer: Option C

Solution(By Examveda Team)

Money Back Plan is an example of an endowment assurance plan. In a money back plan, the insured person gets a percentage of sum assured at regular intervals, instead of getting the lump sum amount at the end of the term. It is an endowment plan with the benefit of liquidity.