what is a maturity date of a life insurance policy
President and Senior Agent, Outlook Life, Most of the U.S. The life insurance maturity date is the date that the policy ends or when the proceeds are paid. If Term life, the policy ends and the death benefit is paid at the death of the Insured. If death does not occur during the years of the term, the maturity date passes and no death benefit is paid. In permanent insurance, a maturity date is built into the policy contract, usually ranging from age 90 to 121. At that point, if the Insured is still alive, proceeds are paid to the policy owner.