An insurance that could be effected with profit feauture is
Answer Details
An insurance policy that could have a profit feature is called an endowment assurance. Endowment assurance is a type of life insurance that combines life coverage with an investment component. The policyholder pays regular premiums, and if they live until the end of the policy term, they receive a lump sum payment, known as the endowment. If the policyholder dies before the end of the policy term, their beneficiaries receive the death benefit, which is the sum insured. Endowment assurance policies are designed to provide both life coverage and a savings component, with the potential for the policyholder to earn a profit, in the form of the endowment, at the end of the policy term.