Noun: endowment insurance en'daw-munt in'shû-run(t)s
- 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
"She chose an endowment insurance policy as a way to save for retirement while also providing life insurance coverage"
Derived forms: endowment insurances
Type of: life assurance [Brit, Cdn], life insurance [N. Amer]
Encyclopedia: Endowment insurance