Meaning of endowment insurance

endow'ment insur"ance

Pronunciation: [key]
  1. 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.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.