What is the Definition of Endowment Insurance?

What is the Definition of Endowment Insurance?

Life insurance that provides a policy benefit payable either when the insured dies or on a stated date if the insured is still alive on that date.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Endowment Insurance?

What is the Definition of Endowment Insurance?

You can find random definition and meaning of insurance terms below:


Meaning of Volume in Insurance Terms

Number of shares a stock trades either per day or per week.


Meaning of Term Insurance in Insurance Terms

A form of life insurance that covers the insured person for a certain period of time, the “term” that is specified in the policy. It pays a benefit to a designated beneficiary only when the insured dies within that specified period which can be one, five, 10 or even 20 years. Term life policies are renewable but premiums increase with age.


Meaning of Territorial Rating in Insurance Terms

A method of classifying risks by geographic location to set a fair price for coverage. The location of the insured may have a considerable impact on the cost of losses. The chance of an accident or theft is much higher in an urban area than in a rural one, for example.


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