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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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So I have been somewhat irked to find myself being bedeviled with calls from so-called endowment ambulance-chasers.
Finally, anyone who feels they received a very raw deal by being sold the endowment in the first place may be able to claim compensation.
However, very few if any endowment policies have matched the interest rate being charged on debt and bonds.
Endowment Mortgages use an endowment policy to provide life insurance and save funds to repay the loan at the end of the term.
It relates to one of my three endowment policies, which at maturity in seven years time will not be sufficient to repay my mortgage loan.
In Arabic, a waqf implies a religious endowment fund, which renders a property unalienable, incapable of being surrendered or transferred.

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