endowment insurance definition

  • noun:
    • a mixture of life insurance and investment so that in the event that individual upon whose life a risk is taken dies before a particular specified time the insurance coverage becomes because of at a time, if he survives, it becomes due at that time specified. Also called very existence insurance coverage.
    • life insurance coverage for a specified amount which is payable toward insured individual at the expiration of a certain duration or even a designated beneficiary straight away upon the loss of the insured
    • a combination of life insurance policies and investment in a way that if the person upon whose life a risk is taken dies before a certain specified time the insurance becomes due at a time, and if he survives, it becomes because of at the time specified. Also called entire life insurance coverage.
    • life insurance for a specified amount which is payable to the insured person at the expiration of a certain period of time or to a designated beneficiary immediately upon the death of the insured
    • a variety of life insurance coverage and investment such that if the person upon whose life a risk is taken dies before a particular specified time the insurance becomes due at once, while he survives, it becomes because of at the time specified. Also known as whole life insurance coverage.
    • life insurance for a specified quantity that is payable towards the insured person at the conclusion of a certain duration or even to a designated beneficiary instantly upon the loss of the insured

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  • Hypernym for "endowment insurance"
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