What Happens When A Life Insurance Policy Matures?

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   David RacichPRO

   Fountain Hills, Arizona

   Life insurance maturity generally refers to the contract ending point where coverage ends and any cash values are distributed. In our modern application of life insurance maturity dates extend to age 121, with some life insurance companies using language and not age as their maturity date, i.e. “the life of the insured.” Any cash values that exceed basis in a policy maturity event are subject to ordinary income tax. 
   
   

   Answered on June 4, 2013

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