I have a Cash Value Life Insurance Policy that has a Death Benefit of $510K. The Surrender Value is around $42K. I am 35 years old. What happens when the Surrender Value is greater than the Death Benefit? From my Insurance statement this will happen in around 10 years.

Lets say I die when I am 90 years old. The cash value of this policy will be well over a few million dollars. Will the Death benefit rise with the cash Value? or do most people surrender the policy once the Cash value surpasses the Benefit?

Thanks

That's not how it works. The cash value will begin to decrease when the premium you pay stops being enough to cover your insurance. It'll go to nothing later in your life.

The cash value can never be higher than the death benefit. If it gets too close, then either you are not allowed to pay any more premiums, or the death benefit will increase to stay a certain amount above the cash value; the exact terms depend on the type of life insurance. Is this universal or variable universal life, with a "fixed" (A) death benefit? You were probably given a projection that shows the death benefit flat and the cash value increasing, but, eventually, the death benefit increases to stay ahead of the cash value.