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Answer :
Final Answer:
John's policy cash value will reach $125,000 when he reaches the policy's maturity age, typically around 100 years old.
Explanation:
When John makes the last premium payment on his $125,000 whole life policy at 65, the policy starts accumulating cash value over time. The cash value is the amount of money available to the policyholder, and it grows through interest and investment returns. However, reaching the full face value of the policy, in this case, $125,000, usually takes time.
Whole life policies mature around the age of 100, at which point the policyholder is eligible to receive the full face value in cash. Until then, the cash value will gradually accumulate, providing John with a growing asset over the years. The policy's cash value will steadily increase, reflecting the premiums paid, interest earned, and any dividends credited by the insurance company.
It's important to note that the specific details may vary based on the terms of John's policy, such as the interest rate and dividend policies. The policy's contractual provisions and the insurance company's financial performance will influence the pace at which the cash value reaches $125,000. Nevertheless, the typical trajectory involves a steady accumulation, and by the time John reaches the policy's maturity age, the cash value should align with the policy's face value of $125,000.
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