Which type of life insurance policy pays the face amount at the end of the specified period if the insured is still alive?

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Which type of life insurance policy pays the face amount at the end of the specified period if the insured is still alive?

a) Adjustable life policy
b) Modified life policy
c) Endowment policy
d) Universal life policy

Answer: c) Endowment policy

WA Life Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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