If your insurance policy “matures,” it essentially means that cash value of the policy has grown to equal the death benefits. If you survive the term of the policy and live to see it reach maturity, the insurance provider generally pays out a lump sum amount, known as the maturity benefit. It includes the value of all the premiums you paid during the policy’s tenure, over and above which a bonus is added. In some cases, the insurer may extend the maturity date and make the lump sum payment only on the policyholder’s demise.