endowment insurance
endowment insurance n: life insurance in which the benefit is paid to the policyowner if he or she is still living at the end of the policy's term (as 20 years)

Merriam-Webster’s Dictionary of Law. . 1996.

endowment insurance
Provides that an insured person who lives for the specified endowment period receives the face value of the insurance policy — that is, the amount paid at death. If the policyholder dies sooner, the beneficiary named in the policy receives the proceeds.
Category: Wills, Trusts & Estates → Getting Your Affairs in Order

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • Endowment insurance — Insurance In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or… …   The Collaborative International Dictionary of English

  • endowment insurance — noun life insurance for a specified amount which is payable to the insured person at the expiration of a certain period of time or to a designated beneficiary immediately upon the death of the insured • Hypernyms: ↑life insurance, ↑life assurance …   Useful english dictionary

  • endowment insurance — In modern terminology, a life insurance policy which provides for the payment of the proceeds of the policy at a stated time after the date of the instrument, sometimes 20, sometimes 30 or more years, but upon the death of the insured if it… …   Ballentine's law dictionary

  • endowment insurance — 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. [1860 65, Amer.] * * * …   Universalium

  • endowment insurance — /ɛnˈdaʊmənt ɪnˌʃɔrəns/ (say en dowmuhnt in.shawruhns) noun a form of insurance providing for the payment of a fixed sum to the insured person at a specified time, or to his or her heirs, or a person designated, should the insured die before the… …   Australian English dictionary

  • pure endowment insurance — See endowment insurance …   Ballentine's law dictionary

  • Endowment assurance — Insurance In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or… …   The Collaborative International Dictionary of English

  • endowment — en·dow·ment n 1: the act or process of endowing 2: a result or product of endowing: as a: the income of an institution derived from donations the university s ability to attract endowment b: the property (as a fund) donated to an institution or… …   Law dictionary

  • Insurance — In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or guarantee… …   The Collaborative International Dictionary of English

  • Insurance broker — Insurance In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or… …   The Collaborative International Dictionary of English

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