endowment life insurance

Endowment Life Insurance

A term life insurance policy whereby the insurance company agrees to pay the death benefit when the policyholder reaches a certain age. For example, rather than waiting for death to actually occur, the company may pay the death benefit when the policyholder turns 100 years old. Because the insurance company will pay the death benefit whether or not the policyholder dies in the designated period of time, premiums on endowment life insurance are high.

endowment life insurance

A life insurance policy that provides benefits for a specified period (for example, 20 years or until age 65) and that may be redeemed at face value if the insured is alive at the end of the specified period. Thus, payment is made regardless of whether the insured lives or dies, although the cost of the policy is quite high compared with other types of life insurance.
References in periodicals archive ?
On 6 August, Canara HSBC Oriental Bank of Commerce Life Insurance announced the launch of its first single premium plan Canara HSBC Oriental Bank of Commerce Life Insurance Shubh Labh, a unit-linked non-participating endowment life insurance plan.
1 percent on single-premium endowment life insurance policies to be purchased from Jan.
The company's portfolio includes juvenile life insurance, the "Grow-Up Plan," a whole life policy for children, the "College Plan," an endowment life insurance policy, and various insurance policies for adults.
Bharti AXA Life Insurance, the private life insurance joint venture between Bharti Enterprises and AXA, has unveiled a new traditional non participating endowment life insurance plan called Bharti AXA Life Secure Savings Plan.
A limited number of products, such as short-term fixed-period life insurance and endowment life insurance, will be offered over the telephone for the time being, the sources said.
The main reason for the growth of German life insurance is the rising demand for general annuity and endowment life insurance products.
Bharti AXA Life Insurance is pleased to announce that it has launched a new traditional non - participating endowment life insurance plan - Bharti AXA Life Secure Savings Plan.
CitiInsurance focuses on life and retirement-related products, including variable and fixed annuities and other unit-linked products; an array of credit-related products, including personal accident and health; term, whole and endowment life insurance.