endowment or endowment insurance

  • A plan of insurance providing for payment of a definite sum either on the death of the insured during a specified period (the endowment period) or on the insured’s survival to the end of that period.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).