Endowment Insurance

Characteristics 

Endowment insurance is similar to whole-life insurance with the maturity date set at an age earlier than 100. It resembles the whole-life policy because there is a decreasing protection element coupled with an increasing reserve or cash value. This relationship is illustrated in the figure below. Protection 

The primary difference between an endowment policy and a whole-life policy is that the reserve amount becomes equal to the face value of the policy at an early age in the former case