Yes, life insurance policies can pay out at the end of the term, depending on the type of policy you have. There are two main types of life insurance policies: term life insurance and permanent life insurance.
Term life insurance provides coverage for a specific period of time, typically 10, 20, or 30 years. If you pass away during the term of the policy, your beneficiaries will receive a death benefit. However, if you outlive the term of the policy, there is no payout at the end.
Permanent life insurance, on the other hand, provides coverage for your entire life. These policies often have a cash value component that grows over time. When the policy matures, which is usually at age 100 or 121 depending on the policy, the cash value is paid out to the policyholder. This is known as the endowment benefit.
It's important to review the terms and conditions of your specific life insurance policy to understand when and how the payout occurs. If you have any doubts or questions, it's best to reach out to your insurance provider for clarification.