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endowment insurance

noun
1.
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
1860-1865
1860-65, Americanism
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for endowment insurance

endowment assurance

noun
1.
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
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Word Value for endowment

15
18
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