Insurance
Life Policy Maturity Benefit Paid
Paying the maturity benefit on a 20-year endowment policy at its expiry date.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Policy Liability / Actuarial Reserve | Liability (-) | 50,000.00 | - |
| Cash / Bank (Maturity Payment) | Asset (-) | - | 50,000.00 |
💡 Accountant's Note
At maturity, the policy reserve is fully released and paid to the policyholder. If the actual payment equals the reserve, there is no P&L impact — it is a pure balance sheet settlement.
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