My wife got a life insurance policy and religiously paid the premium for 5 years. Last week, she informed me that her insurance had matured. I just nodded because I thought all along that the policy is already matured but she remains insured if she will not withdraw the proceeds. But this morning, I learned that she had withdrawn the proceeds (she’s already awaiting the check) because the maturity is the end of the insurance, meaning she has no choice but to receive the proceeds. She had paid a total of 200,000 pesos in 5-years time and now she is poised to receive 180,000 as the proceeds. What? She lost 20,000 as if she had paid for the 5 years that she was insured. Tsk, tsk, this is a caveat for those buying life insurance.