What does Semiendowment Insurance mean? Read on to discover the definition & meaning of the term Semiendowment Insurance - to help you better understand the language used in insurance policies.
Semiendowment insurance is a variant of endowment insurance. Endowment insurance promises to pay a certain amount when the policyholder dies or when they survive the terms of the policy. Unlike endowment insurance, semiendowment pays only half of the amount in case of death or when the policy matures.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Semiendowment Insurance. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: