An endowment insurance plan will offer a settlement once the policy has been in force for a specific length of time or if the individual who is being insured dies. If the individual lives to see the end of the policy, or lives to a specific age, then the plan matures and provides the death settlement to the policyholder despite the fact that he has not died.
Because of the nature of an Endowment Life Insurance policy a claim is certain to happen under this plan, either by death (should the life insured die) or by maturity (should the life insured survive).
