What Happens When Life Insurance Policy Matures? 
The word mature means that it has reached completion . If a whole life policy matures the requirement for premium payments ceases . The death benefit will be paid on the death of the insured . If the policy has also endowed , the face amount would be available for the insureds personal use . Taxation is a technical subject but generally , the proceeds are income tax free except to the extent that they exceed the amount of all the premiums paid . 