endowment policy

Frequency: 5.01.2 per million words

A life insurance contract that pays out a lump sum after a specified term or if the insured person dies before the end of the term.

endowmentendowment + NOUN

Categories:

policy

Examples (10)

  • My parents took out an endowment policy to pay for my university education.
  • The financial advisor suggested an endowment policy as a disciplined way to save for retirement.
  • His endowment policy will mature next year, providing him with a significant lump sum.
  • When considering long-term investments, an endowment policy is often compared with other types of life insurance.
  • Tragically, his family received the payout from the endowment policy after his untimely death.
  • Please read the terms and conditions of your endowment policy carefully before signing.
  • She cashed in her endowment policy to make a down payment on her first home.
  • We are considering getting an endowment policy to secure our daughter's financial future.
  • Could you explain how the premium for an endowment policy is calculated?
  • Although the returns were not as high as expected, the endowment policy still provided a guaranteed sum upon maturity.