What is ENDOWMENT POLICY?

In life insurance. A policy which is payable when the insuredreadies a given age. or upon his decease, if that occurs earlier. Carr v. Hamilton, 129 U.S. 252, 9 Sun. Ct. 295. 32 L. Ed. 009; State v. Orear. 144 Mo. 157, 45 S. W. 1081.

More On This Topic



Link to This Definition
Did you find this definition of ENDOWMENT POLICY helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary