South Carolina Life Insurance Practice Exam

Whole life insurance policies typically mature when the insured reaches what age?

1. Age 90

2. Age 100

3. Age 75

4. Age 80

The correct answer is: Age 100

Whole life insurance policies are designed to provide coverage for the lifetime of the insured, and they typically mature at age 100. This means that if the policyholder reaches age 100 while the policy is in force, the insurer will pay out the face amount of the policy. Maturity at this age ensures that the policyholder’s beneficiaries receive the death benefit if the insured lives to a very old age. Age 100 is a standard in the life insurance industry, making it a crucial detail for understanding the long-term nature of whole life insurance policies. As a product intended to provide lifelong benefits and savings that also accumulate cash value over time, understanding the age of maturity helps policyholders appreciate how whole life insurance can serve their financial planning needs throughout their lifetime.