what does “endowment age 85” on a life insurance policy mean?

This means that life insurance may be divided into two fundamental categories, Term and Long lasting. Term provides with insurance plan policy where you are protected at set of intervals. The plan does not accrue money value. The Long lasting insurance policy means that if you as the tenant of the insurance policy plan will have an advantage of building up money paid to you over the years. In addition to the surface value that is the amount that the policy assures to pay to your beneficiaries if you die. Cash value is the accumulated value of the policy above the surface value. As you make premium payments, later you earn value over that amount.

In addition, it also indicates that if you are around at the age of 85 it will cost you a lot of money paying for insurance for some specific reasons for example, at this age no one can hardly hold a physically fit body. However, a young person will incur less initially and cost will increase gradually with age.