Maturity

{
  "id": "MLC-T-INS-002143",
  "term": "Maturity",
  "field": "Insurance and risk management",
  "definition": "The date when an insurance or financial contract reaches the end of its term and its stated amount becomes payable. For an endowment or whole life policy, it is the endowment date or the policy anniversary at the insured's age 100 or 121, when the cash value equals the face amount and that sum is paid to the owner. For a bond, it is the date the issuer repays the principal.",
  "url": "https://mlchart.com/terminology/insurance/maturity/"
}