Under what condition can Scott's life insurance policy be paid up?

The correct answer is that Scott's life insurance policy can be paid up when the cash value plus accumulated dividends equal the net single premium for the same face amount.

This condition is typically associated with participating whole life insurance policies, which accumulate cash value and may also accumulate dividends over time. The "paid-up" feature allows the policyholder to stop making premium payments while still maintaining a life insurance benefit. This can occur when the cash value of the policy, along with any dividends that have been credited, is sufficient to cover the cost of the insurance for the remainder of the insured’s life.

In contrast, the other conditions provided do not align with the standard mechanisms for making a life insurance policy paid-up. Simply reaching a certain age, having the cash value exceed total premiums paid, or continuing to pay premiums do not fulfill the specific requirement needed for the policy to transition to a paid-up status as outlined above.