endowment assurance

endowment insurance

noun

a form of life insurance that provides for the payment of a specified sum directly to the policyholder at a designated date or to his beneficiary should he die before this date

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012