endowment insurance


endowment insurance
In modern terminology, a life insurance policy which provides for the payment of the proceeds of the policy at a stated time after the date of the instrument, sometimes 20, sometimes 30 or more years, but upon the death of the insured if it occurs prior to the expiration of the stated period. 29 Am J1st Ins § 6. In former times, endowment policies appear to have had features of the tontine policy, one of which was that the insurer came under no liability to an insured who did not survive the endowment or tontine period. Such policies have been referred to at times as "pure endowment insurance." See tontine policy.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • endowment insurance — n: life insurance in which the benefit is paid to the policyowner if he or she is still living at the end of the policy s term (as 20 years) Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. endowment insurance …   Law dictionary

  • Endowment insurance — Insurance In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or… …   The Collaborative International Dictionary of English

  • endowment insurance — noun life insurance for a specified amount which is payable to the insured person at the expiration of a certain period of time or to a designated beneficiary immediately upon the death of the insured • Hypernyms: ↑life insurance, ↑life assurance …   Useful english dictionary

  • endowment insurance — 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. [1860 65, Amer.] * * * …   Universalium

  • endowment insurance — /ɛnˈdaʊmənt ɪnˌʃɔrəns/ (say en dowmuhnt in.shawruhns) noun a form of insurance providing for the payment of a fixed sum to the insured person at a specified time, or to his or her heirs, or a person designated, should the insured die before the… …   Australian English dictionary

  • pure endowment insurance — See endowment insurance …   Ballentine's law dictionary

  • Endowment assurance — Insurance In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or… …   The Collaborative International Dictionary of English

  • endowment — en·dow·ment n 1: the act or process of endowing 2: a result or product of endowing: as a: the income of an institution derived from donations the university s ability to attract endowment b: the property (as a fund) donated to an institution or… …   Law dictionary

  • Insurance — In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or guarantee… …   The Collaborative International Dictionary of English

  • Insurance broker — Insurance In*sur ance, n. [From {Insure}.] [1913 Webster] 1. The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or… …   The Collaborative International Dictionary of English


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.