Good quality pvc cable installed in favourable conditions should last decades. It is other factors such as overloading, mechanical/rodent damage, UV etc that can/will shorten its lifespan.
It is usually the accesories of an installation that will start to fail before the cable - worn switches/sockets, overheating lampholders.
There is to known lifespan but as ricicle has pointed out it can last many years 50 or 60. But the condition, environmental influences and usage will have a factor on the life of an installation.
The generally guidance is to have periodic inspection and testing performed on the installations, this in the main will determine if the installation is safe for continued service.
What ricicle and PBoD said. PVC cables have only been around for about 60 years, so we don't have any true 'in-service 'experience longer than that - but some of the earliest installed is still in service, and perfectly satisfactory, 50-60 years on. It is therefore probable that, in the absence of any factors which resulted in deterioration, such cable can probably remain satisfactory for as long as an average human lifespan, perhaps much longer. As PBoD said, regular inspection and testing is what is required.
In practice, wiring is likely to be replaced much more freuently than that suggests, for reasons unrelated to deterioration of the cables.
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