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Glite Dictionary
endowment insurance

endowment insurance

7.1
Life insurance that pays a set amount after a fixed time or to your family if you die earlier
  • noun
  • /ɪnˈdaʊmənt ɪnˈʃʊərəns/
  • Specialized
translation icon : seguro de capitalización
  • He opted for endowment insurance because it guarantees a lump sum payment either if he survives the term or if he passes away during it.

Examples

  • Improving and refining endowment insurance plans, with annual reviews of benefits and rates, is a priority, Barrett notes.

    Academic text (1999)

  • At the American Bar Endowment (ABE), for more than 40 years, the equation of commitment has remained clear and vital to all lawyers: Endowment insurance plans, responding directly to attorneys' personal and professional needs, offer proven, affordable security and financial planning to every ABA member.

    Academic text (1999)

  • Many families choose endowment insurance to secure their financial future, as it provides a payout at maturity or upon death.

  • Investing in endowment insurance can be a wise decision for long-term financial planning, ensuring protection for loved ones.

Synonyms

insurance
vsendowment insurance
∞ 2.0

A paid plan that protects you against loss, damage, illness, or death

is specific, combining a death payout with a survival payout over a set time
life insurance
vsendowment insurance
91 3.0

A plan that pays money to your family or other people you choose when you die

also pays the holder if they survive a fixed time period
assurance
vsendowment insurance
  • UK
8 4.5

A type of life insurance that pays money after your death

also includes payment when the holder survives a fixed term
life assurance
vsendowment insurance
  • UK
4.1

A plan that pays money to people you choose after you die

also gives money to the holder if they live past a set term

Surface Forms

endowment insurance singular
endowment insurances plural

Morphology

endowment + insurance

The term is transparently built from 'endowment' + 'insurance', so a learner can infer it is a type of insurance involving an endowment or lump-sum payment. However, the precise contractual sense (the policy pays a specified sum on survival at a set term or to beneficiaries on death) is a technical, domain-specific meaning not fully predictable from the constituents, so partial prior exposure is needed.

Etymology

Endowment insurance comes from endowment (money set aside like a 'gift') and insurance (protection). Imagine paying small amounts that build into one clear 'lump sum' you receive at the end of a set time, or that same money goes to your family 'if you die' during that time, so the name now means a policy that pays a fixed sum at the end or on death.