Maturity Benefit is the amount paid by an insurance company to the policyholder when the policy term is completed, provided the policyholder survives the term.
Maturity Benefit is a key feature of savings-oriented insurance plans such as endowment plans, money-back policies, and ULIPs. It includes the sum assured plus any bonuses or returns, depending on the policy type.
Unlike term insurance, which usually does not offer maturity benefits, these plans combine insurance protection with savings or investment.
Insurance products in India are regulated by the :contentReference[oaicite:0]{index=0}.
"A policyholder buys an endowment plan for 20 years with a sum assured of ₹5 lakh. At maturity, they may receive ₹5 lakh plus bonuses."