What occurs when my Whole Life policy reaches its maturity date?
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Maturity date is the date when an investment becomes due and is paid back to the investor . In the case of life insurance, it is the date on which the policy completes the policy term and period which is known as the maturity date. On this date the life insured is liable to receive the applicable maturity.
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Most of the insurance policies have a specific tenure. The date at which your life insurance policy matures, i.e., comes to an end is known as the maturity date of the policy. On the maturity date, you are liable to receive all the maturity benefits.
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You get the policy’s full value or the death benefit amount, and then the policy ends.