What Does Endowment Insurance With Profits Mean?

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What does Endowment Insurance With Profits mean? Read on to discover the definition & meaning of the term Endowment Insurance With Profits - to help you better understand the language used in insurance policies.

Endowment Insurance With Profits

Endowment Insurance With Profits

Life insurance policy that pays the assured sum (face amount) plus bonuses accumulated over the term of the policy. The insured pays a higher-than-normal premium, which is invested in the insurance company and draws annual bonuses (out of the insurance company's profits) that are added to the assured sum and paid on maturity or upon the death of the insured. Also called endowment life policy with profits, or endowment policy with profits.

We hope the you have a better understanding of the meaning of Endowment Insurance With Profits.

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