![A contract that pledges payment of an agreed upon amount to the person](https://www.gkseries.com/blog/wp-content/uploads/2022/04/A-contract-that-pledges-payment-of-an-agreed-upon-amount-to-the-person.png)
Q. “A contract that pledges payment of an agreed upon amount to the person (or his/her nominee) on the happening of an event covered against” is technically known as
A. Death coverage
B. Life insurance
C. Savings for future
D. Provident fund
Answer: Life insurance