When Does A Term Life Insurance Policy Mature?

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Life insurance policies can end due to various reasons, such as the policyholder deciding to cancel the policy or non-payment of premiums. While the types of permanent life insurance policies are designed to last a lifetime, for legal reasons, a maturity date is also set. However, the expiration or maturity date of a life insurance policy varies based on the type of policy selected.

Term Life Insurance

Term life insurance does not have a maturity date, but instead has an expiration date. The policyholder selects the term length when signing up for a policy, usually between five to thirty years. If the insured is still alive at the end of the term, the policy will expire, or the policyholder may renew or purchase another policy for future financial protection if they were to pass away during the next term.

Permanent Life Insurance

Permanent life insurance is designed to last for the policyholder’s entire life, as long as they continue to pay the premiums. However, even these types of policies have a maturity date, usually when the policyholder is between 100 and 121 years old. If a permanent life insurance policyholder lives to the maturity date as stated in the policy contract, the policy value will be paid to the insured.


Term life insurance policies can provide financial protection if the policyholder dies within the term length they selected. With premiums starting at $11 per month, a death benefit could go towards significant expenses such as mortgages or college tuition. On the other hand, permanent life insurance policies can provide lifelong financial protection. However, even these policies have a maturity date, and if the policyholder is still alive, the policy value will be paid to them. Therefore, it is essential to understand the differences between the two types of policies and choose the right one based on your needs and financial goals.

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