Define: Date Of Maturity

UK Accounting Glossary

Definition: Date Of Maturity


Quick Summary of Date Of Maturity


The date on which an insurer will pay the face amount of a policy to the policy owner if the insured is still alive.



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Full Definition of Date Of Maturity


The date of maturity is the date on which a debt becomes due and payable. In the case of an installment debt, the date of maturity is the date on which the final payment is due. If final payment is not made by the date of maturity then a loan may be in default and penalties may be levied. As the date of maturity approaches it is possible to refinance certain types of debts, such as mortgages, in order to create a new date of maturity further into the future, but for other types of debts, such as corporate and government bonds, the date of maturity is fixed. The date of maturity is also known as the maturity date or simply as maturity.


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Examples of Date Of Maturity in a sentence


The maturity date on his life insurance policy is listed as September 12th, just two days after he died.
The insurance company adjusted the maturity dates on all of the policies they issued after 1964, to compensate for the current longer lifespan estimates.



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https://payrollheaven.com/define/date-of-maturity/
Modern Language Association (MLA):
Date Of Maturity. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 25, 2020 https://payrollheaven.com/define/date-of-maturity/.
Chicago Manual of Style (CMS):
Date Of Maturity. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/date-of-maturity/ (accessed: February 25, 2020).
American Psychological Association (APA):
Date Of Maturity. PayrollHeaven.com. Retrieved February 25, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/date-of-maturity/

Definition Sources


Definitions for Date Of Maturity are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 7th February 2020.