a document containing a record, and the terms and conditions of, an endowment mortgage.
endowment policy in American English
US
an insurance policy by which a stated amount is paid to the insured after the period of time specified in the contract, or to the beneficiaries in case the insured dies within the time specified
endowment policy in Insurance
(ɪndaʊmənt pɒlɪsi)
Word forms: (plural) endowment policies
noun
(Insurance: Life insurance)
An endowment policy is an insurance policy that provides life coverage, but that pays a sum of money if the policyholder is still alive after an agreed period of time.
An endowment policy is designed to provide a lump sum on maturity.
An endowment policy will pay you a fixed amount on a set date or if you die before that date; in otherwords it's both a way of saving and a life insurance policy.
An endowment policy is an insurance policy that provides life coverage, but that pays a sum of moneyif the policyholder is still alive after an agreed period of time.