endowment insurance
Definition
Life insurance policy that pays the assured sum (face amount) on a fixed date or upon the death of the insured, whichever comes earlier. Endowment policies carry premiums higher than those on conventional whole life policies and term insurance, but are useful in meeting special lump sum needs such as college expenses or for buying a retirement home. Also called endowment life policy or endowment policy.
endowment insurance is in the General, Marine, & Life Insurance subject.
endowment insurance appears in the definitions of the following terms: maturity value, endowment policy and endowment life policy
endowment insurance appears in the other term: endowment insurance with profits
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