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Does the owner of a whole life insurance policy have to die prematurely for the policy to pay out?

Hi. I'm trying to learn more about how life insurance works...basically, I know nothing at this point. So, lets say the father in a family has a whole life insurance policy for like $2 million. What will his family receive if he dies prematurely? What would they receive if he died of natural causes when the children have grown up? Thank you!

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1. As long as the policy is in force, the full $2 million should pay regardless of age at death. There are some exclusions, such as suicide typically being excluded for the first two years. You'd have to consult the actual policy to be sure of any exclusionary endorsements. Also, if the insured reaches age 100 (or 121 for some newer policies) then the policy is considered matured and will pay the full cash value, which should be equal to or greater than the death benefit. Those are general insurance practices, but each individual policy may differ. Try this site to find the best life insurance http://best-life-insurance-usa.blogspot.com/ Here you can get quotes from different life insurance companies in your area, its the best way to find an affordable life insurance with a reliable company.