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What does endowment mean?

Looking for the meaning or definition of the word endowment? Here's what it means.

Noun
  1. Something with which a person or thing is endowed.
  2. Property or funds invested for the support and benefit of a person or not-for-profit institution.
  3. A form of life insurance paying a lump sum to the policyholder on a fixed date, or to the estate if the policyholder dies before that date.
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Nor will you investigate remortgaging your property, nor do anything about that costly endowment.
Those who opted for endowment mortgages could also face serious repayment difficulties.
However, in general do not simply increase the premiums you pay into your endowment.
Endowment Mortgages use an endowment policy to provide life insurance and save funds to repay the loan at the end of the term.
But what if you wanted to sell your house before the endowment policy was fully vested?
However, very few if any endowment policies have matched the interest rate being charged on debt and bonds.

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