What Is Endowment Life Insurance?
Endowment life insurance is a pre-determined contract in which the money is returned at the end of the contract. Get protection for a given amount of time with endowment life insurance with help from a licensed insurance agent in this free video on life insurance.
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Hi, my name is Bill Rae. I'm a licensed life insurance agent and have been in the business for well over 20 years, and the question is, what is endowment life insurance? This is an excellent question and it is a broad based one. So, I'm going to be a little bit more generic than I normally would be. Let's just say, for sake of argument, that an endowment life insurance policy is basically a pre-determined contract where a certain amount of money is given for a certain amount of protection for a certain amount of time. Now, the advantage of an endowment life insurance is, at the end of that contract time whether you're alive, or I should say, hopefully you are alive, your money is returned to you. Unlike a term life insurance, for instance, where you agree upon a certain amount of money, for a certain amount of time, and at the end of that time, if you haven't passed on, there is no money. Shake hands, we part. So remember, an endowment, you get your money back if you're alive. My name is Bill Rae and I'm helping you build wealth.