Mr. Gupta has two children, he has taken a policy for each of them. This policy is taken to meet the expenses of their education or marriage. Which policy has Mr.Gupta taken for his children?

Endowment Life Assurance Policy

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Whole Life Policy

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Joint Life Policy

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Children's Endowment Policy

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Solution

The correct option is D
Children's Endowment Policy

Children's endowment policy. This policy is taken to meet the expenses of their education or marriage. The agreement states that a certain sum will be paid by the insurer when the children attain a certain age. No premium will be paid if the person dies before the maturity of the policy.

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