What Does It Mean When A Life Insurance Policy Matures?

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    David RacichPRO
    Fountain Hills, Arizona
    With term life insurance it could mean the end of the contract period defined in the policy like a 20 year level term life insurance contract. In permanent life insurance language, it could mean the end of the contract as defined by the insured’s age like maturity age 121. Some participating whole life insurance uses similar but exact language for their policies called endowment at age 120. Some permanent life insurance policies don’t express a date or age, but the phrase, “life of the insured.”
     
    Answered on June 23, 2013
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