| Description: | no exam life coverage In an endowment contract, you receive a specified amount of money on a certain date, unless you die before that date, in which case the money is paid to your designated beneficiary. Insurance companies have also reduced their sales forces as a result of the development of partnerships with banks, giving them the opportunity to sell their insurance products through bank branches. Some parents don't like this option as it may turn their children into 'spoiled brats'.
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