What is another word for endowment insurance?
Pronunciation: [ɛndˈa͡ʊmənt ɪnʃˈʊ͡əɹəns] (IPA) 
Endowment insurance is a form of life insurance that provides both a death benefit and a savings component. Synonyms for endowment insurance include endowment policy, endowment plan, endowment assurance, savings policy, and investment-linked policy. It is designed to provide a lump sum payout to the policyholder either upon the end of the policy term or in the event of the policyholder's death. Other types of life insurance include whole life, term life, and universal life insurance. Endowment insurance is a valuable option for those who wish to save money while also providing their loved ones with financial security upon their death.
