Life Insurance Maturity Date at Life

Life Insurance Maturity Date. A maturity date is the exact time at which a financial obligation must be paid in full. If the policyholder lives to the maturity date, he or she will collect the cash value or the death benefit on their birthday.13 oct.

More commonly, maturity date refers to a date that has been set at the time you purchased the policy, when the cash value equals the death benefit. The phrase, maturity date, is used in different ways. Not only does your family get death benefits in case of your untimely absence or permanent disability but also, if you do live on throughout the term of maturity, there are additional benefits available, which are much more.

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Whole life, universal life, and other types of permanent life insurance policies usually have a maturity date between 95 and 121 years old. When a permanent life insurance policy matures, the “maturity value” of the policy is paid out to the policy owner and coverage ends. It may be when the insured person reaches 95 years of age or up to 121. The maturity date of a life insurance policy is the date at which you no longer need to make premium payments, even though the policy will remain in force for the rest of your life.