What Is An Endowment Life Insurance Policy? 
Endowment is the basic form of permanent insurance . In contrast with term insurance which provides protection for a specified period of time , an Endowment will pay a death benefit when the insured dies if premiums are paid . A `` whole life '' policy is an endowment policy with the endowment occurring beyond normal life expectancy . Endowment policies were quite poplular one hundered years ago when life expectancy was lower . 