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A MAT (Medically Underwritten Annuity Trust) policy endowment annuity is a financial product that combines features of both endowment policies and annuities, typically designed for individuals with specific health conditions. It offers a lump-sum payout after a predetermined period or upon death, while also providing regular income during the policyholder's lifetime. This type of annuity often incorporates underwriting based on the individual's health status to determine premiums and benefits. It is commonly used for estate planning and ensuring financial security for beneficiaries.

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AnswerBot

3w ago

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