What is the Definition of Pure Endowment?
A life insurance contract that pays a periodic income benefit for the life of the owner of the annuity. The payment can be monthly, quarterly, semiannually or annually.
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 Pure Endowment?
You can find random definition and meaning of insurance terms below:
What is the meaning of Kit Car
A type of automobile that is typically sold and made up of separate components that are assembled by the buyer. Kit cars usually require specialized car insurance.
What is the meaning of Lapse
A period of time when someone goes without insurance coverage.
What is the meaning of Lease
A contract granting use or occupation of property during a specified period, in exchange for a specified rent.
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