endowment insurance

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

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
endowment assurance or endowment insurance
 
n
a form of life insurance that provides for the payment of a specified sum directly to the policyholder at a designated date or to his beneficiary should he die before this date
 
endowment insurance or endowment insurance
 
n

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