From Longman Business Dictionaryendowment assuranceenˈdowment asˌsuranceINSURANCE a type of assurance in which someone pays a regular amount to an insurance company, and in return the company agrees to pay a sum of money either on a particular date, or when someone dies, if this is soonerEndowment assurance is a form of saving as your life will be covered for a fixed term. → assurance
