Definitions for "Endowment Insurance"
Related Terms:
Term life, Term life insurance, Term insurance, Family income policy, Whole life, Ordinary life insurance, Whole of life insurance, Whole life policy, Whole life insurance, Suicide clause, Permanent insurance, Life insurance, Endow, Pure endowment, Surrender value, Universal life insurance, Permanent life insurance, Surrender, Cash surrender value, Mature, Paid up, Renewable term life insurance, Face amount, Straight life insurance, Single premium policy, Policy proceeds, Level term insurance, Endowment policy, Convertible term assurance, Return of premium, Extended term insurance, Endowment assurance, Life settlement, Terminal bonus, Life insurance in force, Term assurance, Lapse, Individual life insurance, Paid-up policy, Net amount at risk, Industrial life insurance, Nonparticipating policy, Adjustable life insurance, Life assurance, Settlement options, Term policy, Life income option, Variable universal life, With-profits policy, Ordinary life
An insurance contract that pays an amount of insurance to a beneficiary if the insured person should die during a specified period of years, or the same amount as an endowment if the insured survives to the end of the specified period.
A type of life insurance that provides that the face amount will be paid if death occurs during a specified number of years or if, at the end of the specified number of years, the insured is alive.
A plan of insurance providing for a cash payment of a definite sum of money to the certificate owner at the maturity date if the insured is then living. If the certificate owner dies before this date, the specified sum is paid to a beneficiary. Endowment certificates are no longer sold. An endowment certificate should not be confused with a Modified Endowment Contract.
A type of insurance policy payable at the end of a specified period or maturity date if the policyholder is living, or payable to the beneficiary should the policyholder die before the maturity date.
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
A permanent life insurance policy that offers death protection for specified period of time. If the insured lives past the period specified, the contract pays the face amount of the policy of the insured.
A form of life insurance payable to the insured if living at the end of the endowment period or to a beneficiary if the insured dies before the endowment date. (Inasmuch as a whole life policy pays the face amount at the ultimate age of the mortality table used in calculating the rate for it, age 100 on the CSO Table, it is sometimes said that whole life is "endowment at 100." However, while perhaps a descriptive explanation of a WHOLE LIFE policy, it is actuarially incorrect to refer to a whole life policy as a form of Endowment insurance.)
Life insurance payable to the policyholder, if living at the end of a specified period, called the maturity date, or to a beneficiary if the life insured dies prior to that date.
A type of life insurance that provides a benefit (a) if death occurs during a specified number of years or (b) if, at the end of the specified number of years, the insured is alive.
An insurance policy that pays a stated amount at the end of a specified period or upon the death of the insured if it occurs within that period.
A type of life insurance that provides a specified benefit amount whether the insured lives to the end of the term of coverage or dies during that term.
Life insurance that provides a policy benefit payable either when the insured dies or on a stated date if the insured is still alive on that date.
The type of life insurance that is payable to the insured if he/she is still living on the policy's maturity date, or to a beneficiary .
A form of Life Insurance where the face amount is payable to the insured at the end of the contract period or to a beneficiary if the insured dies before that. An example would be an insured purchasing an endowment payable at age 65: If he reaches that age, the proceeds would be payable to him. If he dies prior to that age, the proceeds would be payable to the designated beneficiary as a Life Insurance benefit.
Combines saving with some protection. If you have a unit-linked endowment insurance plan, your money is invested in an insurance company's Life Funds. The plan is designed to pay the policyholder a sum of money after an agreed number of years (or on the death of the policyholder); the exact amount received depending upon the growth of the funds invested in.
A cash value life insurance policy with a fixed term. Premiums are applied to give life insurance cover for the face amount and at the end of the term the cash value will equate to the face amount and be payable.
A type of life insurance that provides a benefit (a) if death occurs during the term of coverage or (b) if, at the end of the term of coverage, the insured is alive.
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 policy-holder dies sooner, the beneficiary named in the policy receives the proceeds.