Juvenile Endowmenyt Policy
Definition of "Juvenile endowmenyt policy"
Life insurance on the life of a child that provides a death benefit to a beneficiary should the child die during a stipulated time period and the maturity value of the policy at the end of that time period to the child if that child is still alive. This policy has typically been used to provide funds to finance a college education.
Popular Insurance Terms
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Enacted on April 1, 1997; provides protection against creditors for irrevocable trusts provided that the trust has a grantor who is a discretionary beneficiary. In order for the statute of ...
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