Most of the insurance policies have a specific tenure. The date at which your life insurance policy matures, i.e., comes to an end is known as the maturity date of the policy.
On the maturity date, you are liable to receive all the maturity benefits.
For example, if you have taken a savings plan for 10 years in 2020. Then after the 10th year, that is 2030, your policy will cease to exist and you will get the maturity benefit.