endowment insurance
noun
life insurance providing for the payment of a stated sum to the insured if he or she lives beyond the maturity date of the policy, or to a beneficiary if the insured dies before that date.
Origin of endowment insurance
An Americanism dating back to 1860–65
Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019