Which type of life insurance policy pays the face amount at the end of the specified period if the insured is still alive?

An endowment policy is designed to pay the face amount (or the death benefit) at the end of a specified period if the insured is still alive. This type of policy combines life insurance with a savings component, providing a payout at maturity (when the policy reaches its end date) or upon the death of the insured before that date.

Term policies provide coverage for a specified period but do not accumulate cash value and only pay out if the insured passes away during the term. Whole life policies offer lifetime coverage with a cash value that grows over time but do not have the specified maturation characteristic of an endowment policy. Universal life policies offer flexible premiums and benefits but still follow the typical life insurance model without the specific end-of-term payout contingent on survival.

Thus, the endowment policy stands out for its dual purpose of providing life insurance and a guaranteed payout after a fixed period, aligning with the question's criteria.