endowment insurance

Definition of "endowment insurance"
  1. 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
How to use "endowment insurance" in a sentence
  1. Mary decided to invest in an endowment insurance to secure her financial future.
  2. John's endowment insurance will pay a lump sum to his beneficiary if he dies before the specified date.
  3. Endowment insurance can provide individuals with a method to save for later life while still offering death benefits.

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