0 an agreement in which you pay money regularly so that you will receive a large agreed amount of money at an agreed later date or when you die --
1 an endowment : --
The proviso makes provision for the payment of reasonable funeral expenses upon the death of a person instead of the full endowment policy.
Then it is clear that paragraph (d) does not exclude an endowment policy.
That is what is called an endowment policy.
Thirdly, provision is to be made in the case of an endowment policy which is in force at the expiration of the period of protection.
Why was the judge able to change his mind on the sharing of the endowment policy?
This would mean that encourage-meat would attach to a pure endowment policy without life cover.
The borrower therefore pays off each month only the interest on the loan coupled with the premium due on his endowment policy.
This may be the same policy —a whole-life policy is converted as the same policy into an endowment policy involving the trebling of the premium.
