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Noun: endowment insurance  en'daw-munt in'shû-run(t)s
  1. 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

Derived forms: endowment insurances

Type of: life assurance [Brit, Cdn], life insurance [N. Amer]

Encyclopedia: Endowment insurance