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Business Services-1 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMBusiness Services-13 Marks
Question
“ Endowment policy is more popular than life Insurance “ – Explain.
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Answer

  • The amount of Life Insurance policy is given to the heir of the insured after his death. So the amount paid by insure as premium can not be used by him.
  • If he holds the insurance policy of endowment , then his successors get the money after his death. If the insured has become more popular than Life Insurance.
  • This policy is more useful to him/ her to their successors.

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