when is a whole life insurance policy designed to mature or endow
Whole life insurance A whole life policy is said to "mature" at death or the maturity age of 100, whichever comes first.[2] To be more exact the maturity date will be the "policy anniversary nearest age 100". The policy becomes a "matured endowment" when the insured person lives past the stated maturity age. In that event the policy owner receives the face amount in cash. With many modern whole life policies, issued since 2009, maturity ages have been increased to 120. Increased maturity ages have the advantage of preserving the tax-free nature of the death benefit. In contrast, a matured endowment may have substantial tax obligations.
Life Insurance Corporation The Oriental Life Insurance Company, the first company in India offering life insurance coverage, was established in Kolkata in 1818 by "Anita Bhavsar" and others. Its primary target market was the Europeans based in India, and it charged Indians heftier premiums.[8] Surendranath Tagore had founded Hindusthan Insurance Society, which later became Life Insurance Corporation.[9]