A permanent life insurance policy will mature in most cases at age 100. Some plans will endow (another word for mature) at age 95 while some at ages above 100.
When your policy matures the face amount is paid to you less any policy indebtedness.
A mature policy will almost always trigger a taxable event.
If by mature you mean endows or the policy period ends, there are a few things that may happen. If the policy is whole life and has a maturity date, then the cash values exceeding basis will be taxed at ordinary income tax rates. If you have received policy loans and did not pay the loan interest, but used policy cash values to pay the charges, you will have a phantom income ordinary tax event on loans you have received and cash values remaining in the policy. In some polices coverage simply ceases. Highly unlikely, but all this could happen.
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When your policy matures the face amount is paid to you less any policy indebtedness.
A mature policy will almost always trigger a taxable event.