What might be included in the components of an endowment policy?

An endowment policy is a type of life insurance that combines both a death benefit and a savings or investment component. It is designed to pay out a lump sum either on the policyholder's death or upon reaching a specific maturity date, thereby providing financial protection along with a savings mechanism.

The investment element allows the policyholder to accumulate cash value over the life of the policy, which can be accessed or used as a lump sum at maturity. This distinguishes endowment policies from term insurance, which only provides coverage for a specific period without any savings component. Therefore, including both investment elements and the promise of a lump sum payment upon maturity or death reflects the fundamental features of endowment policies, making this the correct choice.