the end of the term of, for example, an endowment policy.
Insurance Encyclopedia
Maturity date
Date on which an endowment policy matures and begins to pay out benefits to the policyholder.
Maturity date (Life Insurance)
The date upon which the face value of a life insurance policy is payable, whether due to the insured’s death or an endowment.
Maturity factor
Dollar amount sum (factor) to annualize insurance claims where less than 1 year’s experience is obtainable. For example, if only 10 months of claims exist, the total dollar amount is multiplied by a maturity factor of 1.2 to obtain a 1-year claim amount (10 × 1.2 = 12).
Maturity value (Life Insurance)
The total amount paid to an insured at the end of an endowment or to the owner of a life insurance policy after they have lived past a specified age.