How does age 85 play into the policy?

The age of an endowment policy simply means at what age the policy will mature" or pay out. In this case, at the age of 85 the policy will pay out and no longer be active. The age of 85 is a common age at which these life insurance contracts are drawn up although that is not always the case. Endowment policies are set for a certain number of years (10, 15, 20, etc.) OR until the age of endowment is reached. Some endowment policies can also mature when a certain life event occurs such as a permanent disability and, of course, in the event of death. Barring the endowment age being reached or a specified life event occurring, the policy does not mature until the year limit is reached. Most policies allow you to request a lump sum payment prior to maturity but you will pay a substantial penalty when doing so.""