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Simple English definitions for legal terms

endowment policy

Read a random definition: ordinis beneficium

A quick definition of endowment policy:

An endowment policy is a type of insurance policy that pays out a lump sum of money after a certain period of time or upon the death of the insured person. It is a way to save money and protect loved ones financially. Other types of insurance policies include accident policies, which cover injuries, and homeowner's policies, which protect against damage to a home. Insurance companies use a process called rating to determine how much to charge for a policy, and sometimes they join together in groups called insurance pools to spread the risk.

A more thorough explanation:

An endowment policy is a type of life insurance policy that pays out a lump sum of money either at the end of a specified period or upon the death of the insured person, whichever comes first. This policy is different from a regular life insurance policy because it has a savings component that builds up over time, in addition to providing a death benefit.

For example, if a person purchases a 20-year endowment policy and survives the entire 20-year period, they will receive a lump sum payout at the end of the policy term. If the person dies before the end of the 20-year period, their beneficiaries will receive the death benefit.

Endowment policies are often used as a savings tool for long-term financial goals, such as paying for a child's education or funding a retirement. They can also be used as a form of life insurance to provide financial security for loved ones in the event of the insured person's death.

endowment life insurance | end position

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Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
HopefullyInLawSchool
14:17
@Law-Guy Im feeling kinda happy I applied YM to UCI hoping it helps (:
Wanna give some head
soap
14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
14:33
@WorthlessAttractiveZombie: 4
WorthlessAttractiveZombie
14:35
@EvolBunny: I will take the odds of 4, very promising
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