endowment insurance
- A policy that pays out a lump sum to the policyholder at a specific time, or to the beneficiary if the policyholder dies before that time
- Mary decided to invest in an endowment insurance to secure her financial future.
- John's endowment insurance will pay a lump sum to his beneficiary if he dies before the specified date.
- Endowment insurance can provide individuals with a method to save for later life while still offering death benefits.
Provide Feedback
