What age does an endowment life insurance policy typically aim to reach its full cash value?

An endowment life insurance policy is designed to provide a death benefit as well as a cash value that matures at a specific age, often referred to as the endowment age. Typically, this age is set at 100 years. At this point, the policyholder or their beneficiaries receive the full cash value of the policy, regardless of whether the insured has passed away or is still living.

The concept of endowment policies is based on the principle that if the insured survives to the endowment age, they are entitled to the cash value accumulated in the policy, which serves as a savings vehicle in addition to providing life insurance coverage. This makes age 100 a key milestone for these policies, as it aligns with standard industry practices in life insurance.

Other options, such as age 75, age 80, or the idea that there is no specific age limit, do not accurately reflect the typical structure of endowment policies. While some life insurance products may have different terms or purposes, the established norm for endowment policies consistently targets age 100 for reaching full cash value.