### Question
How is the term endowment contract defined?


### Answer
The term **endowment contract** is defined in *26 U.S.C. § 7702* as the following:

> a contract which is an endowment contract under the applicable law and which meets the requirements of subsection (a)

#### Citation:
  - *26 U.S.C. § 7702*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 79-DEFINITIONS**

