What type of accounts include contracts with educational savings plans?

• A. General Accounts
• B. Scholarship Plans
• C. Separated Accounts
• D. Exempt Accounts

Answer: (B)

Contracts associated with educational savings plans are categorized under scholarship plans. These plans are specifically designed to help individuals save for educational expenses, making them distinct from other types of accounts. Scholarship plans often come with features like tax advantages and specific contribution limits that are aimed at facilitating the accumulation of funds for future education.

On the other hand, general accounts encompass a wide range of financial products without the specific focus on educational purposes, while separated accounts and exempt accounts refer to structures that have different regulatory or tax implications unrelated to educational savings. By understanding that scholarship plans focus on the goal of supporting educational funding, it becomes clear why this classification is the correct answer.