What does matured policy mean in life insurance?

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A matured policy is one that specifies a date on which the face value of the policy will be paid to the policyowner if the insured is still alive. The maturity date (and hence, the status of the policy becoming matured) will occur either at the end of a stated term, or when the insured reaches a specified age.
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Should the insurance company contact the insured person when a life insurance policy matures?

When the policy matures, an attempt must be made to contact the policyowner at the last address the insurance company has. But if they have moved and not notified the insuranc

When does a whole life insurance policy mature?

Answer . When an insurance policy's guaranteed cash value equals the initial death benefit, it is said to "endow" or mature. Whole Life contracts typically endow at the ins

What does it mean when a Whole Life Insurance policy has lapsed?

The policy is no longer in effect. Any cash values have been used. You should be able to reinstate the policy within a period of 6 months by paying all premiums due from the l

What does it mean when it asks if your life insurance policy is assigned?

It usually means that you have pledged or sold the end of life benefit from the policy to guarantee an obligation such as a loan. Otherwise, there is not much difference betwe

What does COD mean in a life insurance policy?

In the context of a life insurance policy, it stands for Certificate of Death. It is significant because the occurrence that traiggers the insurer's duty to pay is the death o

What to do when life insurance policy mature?

If you have reached the age where your whole life policy matures, call your life insurance agent or the insurance company. They owe you a check. If you are talking about the e

Can a health rider on a life insurance policy have different maturity dates?

Although "health rider" is not really a term of art in the US life insurance market, in other places it refers to something like a critical illness policy that is annexed to a

Can you check with your policy number if your life insurance has matured?

Life insurance is paid out upon your death. If you have whole life insurance (premium plus a savings component) perhaps there might be a time where no further premiums are req

When someone has a life insurance policy on you does this mean when you die they get the money?

If there is a policy on your life the person currently listed as the beneficiary will be paid upon your death. The person listed as the owner of the policy is the only one who