Endowment life insurance typically guarantees a
sum of money that will be available to you or your
beneficiaries, whether you live until the policy
matures (maturity date), or in case of an
untimely death. In other words endowment
life insurance
is where the face amount is payable to the
insured at the end of the contract period or to
a beneficiary if the insured dies before that.
If the insured reaches that age the
endowment life insurance policy is payable at
then the proceeds would be payable to the
insured. If the insured passes prior to
that age, the endowment life insurance proceeds
are payable to beneficiaries.
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