When Does A Life Insurance Policy Mature? 
It depends on how the policy was designed . A whole life insurance policy matures when it pays out a death benefit on policies that have no stated maturity date . Otherwise , the policy will indicate a maturity date which , on many whole life policies , may be age 95 , 98 , 100 , 120 , etc. . The issue with a policy that matures while the insured is still alive is that the maturity benefit will be taxable as the cash is constructively received at that point . Many policies in recent years have maturity extension riders or policy provisions which can extend maturity to prevent such an unwelcome situation so check your policy . Death benefits are normally received income tax-free but a living maturity is income taxable to the extent of gain in the contract to the policy-owner . If maturity is approaching and such riders are not present , insurers have been known to agree , upon request , to continue the policy extra-contractually . Contact an experienced life insurance professional for assistance . 