Under a limited payment whole life policy, when must the guaranteed cash surrender value equal the face amount?

In a limited payment whole life policy, the guaranteed cash surrender value is designed to build up over a specified period, ultimately reaching a point where it equals the face amount of the policy. This occurs when the insured reaches age 100, which is typically considered the maturity age for whole life insurance.

At this age, the insurance company is required to pay out the face value of the policy to the insured or their beneficiaries, or to provide an equivalent cash value if the policy is surrendered. This framework is built on the premise that a whole life policy accumulates cash value over time, and by the time the insured is 100, the cash value has matured to equal the face amount.

The other options do not align with the standard provisions of limited payment whole life policies. For instance, achieving this parity at the time of policy issuance or after a specific term like 10 years or at age 65 does not reflect the financial structure and guarantees outlined in such policies. Age 100 is a critical milestone in the lifecycle of a whole life policy, signifying the culmination of its growth and the fulfillment of its guarantees.