Receive A Lump Sum at a Set Time
Endowment Plans
An Endowment policy is designed to pay a lump sum upon an insured’s death or on a specified date if the insured is still alive. Endowment policies are good for investing and saving for a specific milestone like your child’s college tuition or your retirement. This type of policy builds cash value and usually allows the policyowner to apply for a loan that is secured by the policy.