To find life insurance policies which are assured payable upon death of the insured, anytime within the period of cover to the beneficiary or beneficiaries, or upon maturity that is just after the period of cover, to the insured. The second type of policy is called whole life insurance. The basic difference between whole life insurance and endowment insurance policies is that you have insurance for your entire life. The premium is slightly lower than that of an endowment policy.