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Discover Ludwig"endowment policy" is a correct and usable phrase in written English.
It is commonly used in finance and insurance contexts to refer to a type of life insurance policy that pays out a lump sum at the end of a specified term. Example: John purchased an endowment policy to ensure financial security for his family in the event of his unexpected death.
Dictionary
endowment policy
noun
A life assurance savings scheme designed to pay out a lump sum when the policy matures
Exact(40)
Q Our mortgage is covered by an endowment policy.
First of all, could you have been miss-sold this endowment policy?
I am paying in to an endowment policy that matures in three years' time.
Thinking about surrendering your endowment policy early in order to raise some extra cash?
Policyholders can expect to receive on average 15 per cent more than the surrender value by selling the endowment policy to a traded endowment policy market maker, or by auctioning it.
Most members will have a with-profits endowment policy, personal pension (including stakeholder plans) or with-profits bond.
Similar(20)
Traded endowment policies (Teps).
Worries about whether endowment policies will deliver high enough returns to pay off mortgages have intensified.
Growth predictions for endowment policies were once between 7 and 12 per cent.
Four years ago Standard Life announced that it would help to make good shortfalls on endowment policies.
From January 2005, he wants to scrap the tax exemption on the lump sum paid when endowment policies mature.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com