What Does It Mean When A Life Insurance Policy Matures
HUIZENG HU / Getty Images What Is a Life Insurance Maturity Date? When a permanent life insurance policy matures, the “maturity value” of the policy is paid out to the policy owner and coverage ends. Maturity dates are based on the age of the insured person and vary, depending on when the policy was issued. The maturity value to be paid out is specified in the contract. For example, it may be equal to the cash value of the policy or the face amount....