Endowment Meaning In Insurance. An endowment is a nonprofits investable assets which are used for operations or programs that are consistent with the wishes of the donors. Dec 19 2016 what does endowment age 85 on a life insurance policy mean.
Its premiums are more expensive compared to similar policies. Secured with SHA-256 Encryption. This means that life insurance may be divided into two fundamental categories Term and Long lasting.
Put simply its a life insurance policy that doubles as an investment or a savings account.
The face amount is payable in the event of death before the end of the period. It pays a lump sum after a specified number of years or upon death. This is in contrast to life insurance which pays the face value only in the event of the insureds death. Endowment insurance definition life insurance providing for the payment of a stated sum to the insured if he or she lives beyond the maturity date of the policy or to a beneficiary if the insured dies before that date.
