| NOUN | possession | endowment insurance | life insurance for a specified amount which is payable to the insured person at the expiration of a certain period of time or to a designated beneficiary immediately upon the death of the insured |
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| Meaning | life insurance for a specified amount which is payable to the insured person at the expiration of a certain period of time or to a designated beneficiary immediately upon the death of the insured. | |
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| Broader | life insurance, life assurance | insurance paid to named beneficiaries when the insured person dies |
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