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The maturity date of a life insurance policy is the date at which you no longer need to make premium payments, even though the policy will remain in force for the rest of your life.Tax policy considers endowment income - that is, the amount of an endowment less the premiums paid by the insured - to be ordinary income, and its taxed at that rate.Jeff Rose, sBA Business Loans for Funding Your New Start.Surrender Value Every whole life insurance policy has a "surrender value." the amount the policy would be worth if you stopped paying premiums at that time.Pushing Back the, maturity, date, pushing back the maturity date on a policy just requires reducing the cash value.In an "endowment" life policy, once the cash value equals the policy's "face value" - the amount that's paid out upon the death of the insured - the policy has reached its maturity date.People typically withdraw the surrender value when they stop paying premiums.This amount is sometimes but not always the same as the death benefit amount.By contrast, life insurance benefits are not taxable.You can also just skip some payments.Some insurance companies will let you simply add extra money to the account, much like paying extra principal on your mortgage.This is a standard option on all whole life products, and reduces the cash value by the amount of the loan plus some fees.12222 Merit Drive, Suite 1600, dallas, TX (972) (800) 827-4242.Renegotiating the policy essentially means cancelling your existing coverage and buying a new policy with an earlier maturity date.Cash values are adjusted so that they equal the death benefit upon maturity.
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Cash Value and, maturity, date.
You can do this by taking a loan out against the policy.
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