What type of endowment pays off only if the insured lives to maturity?

A pure endowment is a type of insurance contract that provides a benefit to the policyholder only if they survive to the end of the policy term, also known as maturity. This means that if the insured lives until the specified maturity date, they will receive a predetermined sum. If the insured passes away before reaching this date, no benefit is paid out to the beneficiaries. The essence of a pure endowment is its focus on survival, distinguishing it from other life insurance products that offer death benefits regardless of the policyholder's lifespan.

In contrast, a standard endowment combines elements of both life insurance and savings, paying out either upon death before the maturity date or at the end of the term if the insured is still alive. Adjustable life insurance and modified whole life policies include features that cater to changing needs and may involve endowment aspects, but they do not match the strict definition of a pure endowment, which is solely about benefits triggered by survival to maturity. Thus, when considering the characteristics of each type, the pure endowment is the clear choice in relation to the question asked.