Under the endowment policy, the money handed over to the insured at the expiration of the stipulated time or at death is the?

Under the endowment policy, the money handed over to the insured at the expiration of the stipulated time or at death is the "lump sum benefit". An endowment policy is a type of life insurance policy that provides both insurance coverage and a savings component. The insured pays regular premiums to the insurance company, and at the end of the policy term, the policy pays out a lump sum benefit to the insured. If the insured dies before the end of the policy term, the lump sum benefit is paid out to the beneficiary. The lump sum benefit is the amount of money that the insured receives at the end of the policy term, and it is usually a fixed amount that is specified in the policy. The lump sum benefit can be used for any purpose, such as paying off a mortgage, funding a child's education, or supplementing retirement income.