What Does It Mean When A Life Insurance Policy Matures? 
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 insureds 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 dont express a date or age , but the phrase , life of the insured . 