Overview

pure endowment assurance


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Quick Reference

An assurance policy that promises to pay an agreed amount if the policyholder is alive on a specified future date. If the policyholder dies before the specified date no payment is made and the premium payments cease. The use of the word ‘assurance’ for this type of contract is questionable as there is no element of life-assurance cover.

Subjects: Financial Institutions and Services.


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