endowment insurance (Meaning)
endowment insurance (n)
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
Synonyms & Antonyms of endowment insurance
No Synonyms and anytonyms found
endowment insurance Sentence Examples
- Endowment insurance is a type of life insurance policy that provides a lump sum payment upon maturity or upon the death of the insured person.
- Endowment insurance policies typically have a savings component and an insurance component.
- Endowment insurance premiums are typically paid annually, semi-annually or monthly.
- The savings component of an endowment insurance policy accumulates cash value over time.
- The accumulated cash value in an endowment insurance policy can be withdrawn or borrowed against, typically after a certain period of time.
- Endowment insurance policies typically offer death benefits, which are paid out to the beneficiary upon the death of the insured person.
- The death benefit in an endowment insurance policy is typically equal to the sum of the face amount of the policy and the accumulated cash value.
- Endowment insurance policies can be used for a variety of purposes, such as saving for retirement, funding a child's education, or providing a financial cushion for the family in the event of the insured person's death.
- Endowment insurance policies can be a good option for people who want to save money and also have life insurance coverage.
- Endowment insurance policies can be complex, so it's important to talk to an insurance agent to understand the terms and conditions of the policy before purchasing it.
FAQs About the word endowment insurance
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 immedi
No synonyms found.
No antonyms found.
Endowment insurance is a type of life insurance policy that provides a lump sum payment upon maturity or upon the death of the insured person.
Endowment insurance policies typically have a savings component and an insurance component.
Endowment insurance premiums are typically paid annually, semi-annually or monthly.
The savings component of an endowment insurance policy accumulates cash value over time.
