What type of policy allows an individual to receive the face amount after 20 years if they are still alive?

A 20-year endowment policy is designed to pay out the face amount of the policy after a specified period, in this case, 20 years, if the insured individual is still alive. This type of policy combines features of both whole life insurance and term insurance; it provides a death benefit if the insured dies within the 20-year term and a maturity benefit that pays out if the insured survives the 20 years.

Policies such as a 20-pay life require premiums to be paid for 20 years but do not provide a payout after that period unless the insured passes away. A 20-year term policy only offers coverage for a specific term and does not include any cash value accumulation or maturity benefit. Therefore, the 20-year endowment is the correct choice as it aligns precisely with the question's requirement for a payout after 20 years of survival.