Question

What does ‘Endowment’ life policy mean?

Answer 1

Answer:

An endowment policy is a life insurance contract designed to pay a lump sum after a specific term (on its 'maturity') or on death. Typical maturities are ten, fifteen or twenty years up to a certain age limit. Some policies also pay out in the case of critical illness.

hope it helps and mark as branilist please let