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endowment insurance

[ en-dou-muhnt in-shoor-uhns, -shur- ]

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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Word History and Origins

Origin of endowment insurance1

An Americanism dating back to 1860–65

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