Which of the below statement is correct with regards to endowment assurance plan?

Endowment assurance plan has both a death benefit as well as a survival component. Endowment plan is a life insurance policy which provides you with a combination of both i.e.: an insurance cover, as well as an savings plan. It helps you in saving regularly over a specific period of time, so that you are able to get a lump sum amount on policy maturity, if the policyholder survives the policy term.