The correct answer is D. The insured survives policy term.
A maturity claim is a payment made by an insurance company to the insured or their beneficiaries when the policy reaches maturity. The maturity date is the date on which the policy expires and the insured is no longer covered by the policy. The maturity amount is the amount of money that the insured or their beneficiaries will receive when the policy matures.
The maturity amount is typically based on the amount of premiums that have been paid into the policy, the length of time that the policy has been in effect, and the interest rate that has been earned on the premiums.
The maturity claim is payable when the insured survives the policy term. This means that the insured must be alive on the maturity date in order to receive the maturity amount. If the insured dies before the maturity date, the maturity amount will be paid to the insured’s beneficiaries.
The other options are incorrect because they do not meet the definition of a maturity claim. A maturity claim is not payable when the insured dies during the policy term, when the insured is diagnosed with a critical illness, or when the insured survives the first 5 years of the policy.