Why Are Endowment Contracts Not Considered Life Insurance? 
Endowments are a form of life insurance . Actually most permanent life insurance policies are endowment policies . For example , a whole life policy is actually an endowment at age 100 , or 120 depending upon the insurance company . That means when you reach age 100 or 120 the cash surrender value of the policy will equal the face amount . That is what an endowment policy is . Endowment policies were very popular at one time and I have written policies that endowed in ten years . 