endowment insurance

American  

[en-dou-muhnt in-shoor-uhns, -shur-] / ɛnˈdaʊ mənt ɪnˌʃʊər əns, -ˌʃɜr- /

noun

1. life insurance providing for the payment of a stated sum to the insured if they live beyond the maturity date of the policy, or to a beneficiary if the insured dies before that date.

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Etymology

Origin of endowment insurance

An Americanism dating back to 1860–65

Example Sentences

"When a person has no medical insurance, unemployment insurance or endowment insurance, how can that person dare spend all their money?" said Tang Jun, a sociology researcher with the China Academy of Social Sciences.

From Washington Post

“Why, he said he could only get together two thousand dollars at present, but that later he would have some endowment insurance falling due––” “How soon?”

From Project Gutenberg

He had held shipping shares too long and had sold a fully-paid endowment insurance policy in the vain endeavour to replace by adventurous investment that which the sea had swallowed up.

From Project Gutenberg

You will be able to cease term insurance, if you wish, and have ordinary life, limited payment life, or endowment insurance.

From Project Gutenberg

Many persons are attracted to endowment insurance by the oft expressed thought that "you don't have to die to beat it."

From Project Gutenberg