1. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    Life insurance really does not mature. Permanent life insurance or cash value life insurance does not mature but they endow. These are the whole life and universal life policies that endow when the cash value equals the face amount. Term life insurance has no cash value and cannot endow. Term life insurance either expires when the term is met or has a steep rate increase when the term is met.
    Answered on July 26, 2014
  2. 5527 POINTS
    Marlin McKelvy
    President, Consumer Directed Benefit Solutions, Memphis, Tennessee
    Nope, it just ends at the end of the term period of the policy.  That may be 10, 20 or 30 years but once the policy's allotted time span has run its course it's done and the insurance coverage ceases.  The term "mature" is usually associated with permanent life insurance policy types that are set up to be paid for in full after some period of time that can range from being paid up at the time of purchase or over a span of many years.  However, once that type of policy matures then the need for payment of premiums ceases and yet the policy stays in effect until the death of the policyholder.
    Answered on July 26, 2014
  3. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    The phrase, maturity date, is used in different ways. Some life insurance companies call the end of the term the maturity date. So in that sense, term life insurance does have a maturity date.

    More commonly, maturity date refers to a date that has been set at the time you purchased the policy, when the cash value equals the death benefit. If you have not died before that time, you can then take out the cash value/death benefit on the maturity date. 

    Term life insurance does not have cash value, so it would not pay out anything on the maturity date.
    Answered on July 29, 2014
  4. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! Term life insurance policies are very simple things. They provide protection that begins the day that the policy is approved and issued, and lasts exactly as long as the policy specifies. There is no maturity point, as the coverage is full from start to finish.
    And that is the thing to be aware of with term policies - they will most often end before you do. There is no returnable cash or value, and no more coverage after the specified day the term period ends. Be aware that extending that coverage becomes very expensive very quickly.
    Please discuss your need for insurance with an independent agent so they can best steer you to the policy that will work best for you. Thank you for asking!
    Answered on May 7, 2015
  5. 5877 POINTS
    Stan Cox II
    Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
    Does Term life insurance "mature"? Typically the term 'mature' as used in connection with life insurance policies refers to policy reaching the point at which the cash value has attained the "face" value of the policy. At that point the face value of the policy will be awarded to the owner and the policy terminated.

    In the case of Term insurance there is NO cash value ever, so in the typical sense as used in life insurance parlance term insurance does not mature. However one could say that a term insurance policy "matures" at the point at which it terminates. That is it has reached the full term and then expires.
    Answered on November 10, 2015
  6. Did you find these answers helpful?

Add Your Answer To This Question

You must be logged in to add your answer.

<< Previous Question
Questions Home
Next Question >>