Your question doesn’t make sense to me. Life insurance policies typically don’t “endow’ or mature until age 100! Here’s the definition:
Typically for whole life plans, the policy is designed to endow at maturity of the contract, which means the cash value equals the death benefit. If the insured lives to the “Maturity Date,” the policy will pay the cash value amount in a lump sum to the owner.
Did you purchase a RETIREMENT ENDOWMENT plan? Here’s how that works:
A retirement endowment was created to be paid out when the person retires, at age 65. Like whole life insurance, if the insured person dies before the maturity date, the face value of the policy is paid out as a death benefit. However, at maturity, the full face amount of the policy becomes payable in monthly installments.
If this is being paid out in taxable installments, there is nothing you can do but pay the taxes and spend it as you like.
I’ve never heard of a total cash-out endowment policy, but if that is the case, then ask the insurance company if you are allowed to “roll” the proceeds into a deferred annuity where it can continue to grow tax deferred.