What is another word for endowment policy?
Pronunciation: [ɛndˈa͡ʊmənt pˈɒlɪsi] (IPA) 
An endowment policy is a type of life insurance policy that pays out a lump sum upon a certain event, such as the death of the policyholder or the end of a specified term. However, there are a variety of other phrases and terms that can be used to describe this type of policy. For example, some may refer to this as an investment-linked life insurance policy, while others may call it a savings plan or a long-term savings policy. Additionally, some may use the terms guaranteed investment plan or guaranteed savings plan to describe policies that provide a guaranteed sum at the end of a set term.
