What happens when my life insurance expires? Find out!

Life insurance is a valuable financial tool that helps provide financial security to your loved ones in the event of an unexpected death. A life insurance policy works by providing a death benefit payout to your beneficiaries upon your death. However, what happens when your life insurance policy matures, i.e., comes to an end?

The date at which your life insurance policy matures is known as the maturity date of the policy. On the maturity date, you are liable to receive all the maturity benefits. These benefits can vary depending on the type of policy you have and the duration of the policy.

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Typically, money-back policies offer one of the following maturity benefits:

Lump-sum payout: A lump-sum payout is a one-time payment that you receive when your life insurance policy matures. This payout is usually the sum of all the premiums you have paid plus any interest accrued over the duration of the policy.

Annuity payments: An annuity is a regular stream of payments that you receive over a fixed period after your life insurance policy matures. Annuity payments are a popular choice for those who want to ensure a steady stream of income during their retirement years.

Reinvestment options: Some life insurance policies offer you the option to reinvest the maturity benefits in another investment vehicle. This option can help you maximize your returns and ensure long-term financial stability.

To make the most of your life insurance policy and ensure returns, choose the Canara HSBC Life Insurance iSelect Guaranteed Future Plan, which offers a range of benefits, including guaranteed returns, loyalty additions, and premium boosts along the way.

Here are some of the features of the Canara HSBC Life Insurance iSelect Guaranteed Future Plan:

Gift of guarantee

The plan offers a guaranteed payout at the end of the policy term, ensuring that you receive a return on your investment.

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Boost your maturity benefit

The plan also offers loyalty additions, which increase the maturity benefit each year, ensuring that your returns keep growing.

Guaranteed additions

The plan offers guaranteed additions, which are paid at the end of each policy year, ensuring that your returns keep growing.

Payor premium protection

The plan also offers payor premium protection, which ensures that the policy remains in force even in the event of the policyholder’s untimely death.

In addition to these features, the Canara HSBC Life Insurance iSelect Guaranteed Future Plan also offers tax benefits, making it an attractive option for those looking for a comprehensive life insurance policy.

To give you a better picture, investing ₹1,03,903 per month for 5 years in the plan will yield a return of ₹1,00,00,000 at the end of the 10th year, which can significantly increase your savings.


It is essential to choose a plan that gives you the maximum desired benefits on maturity. Else, your investment throughout the term would be a futile exercise.

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Author: Sanjib SahaSanjib is a finance based writer who has a deep knowledge in stock market, cryptocurrency and mutual funds. He is also a co-founder of Financesrule.com

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