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Endowment insurance - 2 dictionary results

endowment insurance

–noun
life insurance providing for the payment of a stated sum to the insured if he or she lives beyond the maturity date of the policy, or to a beneficiary if the insured dies before that date.

Origin:
1860–65, Americanism

Main Entry: endowment insurance
Function: noun
: life insurance in which the benefit is paid to the policyowner if he or she is still living at the end of the policy's term (as 20 years)
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