What is Endowment Insurance?
by Steve Sterling
What is Endowment Insurance?
In Life Insurance, by Dan McGill, 1967 Edition, we read, "from the standpoint of structure, it may be said that an endowment policy is a combination of pure or level term insurance and a pure endowment. The same description may be applied to a whole life policy, which is simply a combination of term insurance for a period extending to age one hundred and a pure endowment for the same term."
Barron's Dictionary of Insurance Terms by Harry W. Rubin, third edition, 1991 defines PURE ENDOWMENT as "Life insurance policy under which its face value is payable only if the insured survives to the end of the stated endowment period."
The Handbook of Insurance by Clyde J. Crobough, 1931, speaks of the attributes of endowment insurance: "Some of the special merits of the endowment policy may be summarized briefly: 1. Is a method of compulsory saving. 2. Combines protection and investment. 3. Helps to create funds for special objectives which the policyholder may use."
For further information, please go to http://www.insurance-endowment.com/definitions.html. This was the most comprehensive information concerning Endowment Life Insurance that we have found so far.
About the Author:
Steve Sterling has been in the insurance business since 1973. He is considered by many to be an expert on Life Insurance Companies as well as Life Insurance Company Investment and Life Insurance Company Profit and Loss.
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