Standing rigging rarely fails in the middle of a wire. SAIL's rigging feature is plain about it: the wire itself rarely fails midway along a shroud. It fails at the ends, in the swaged terminals, where the wire is pressed into a stainless sleeve and salt water sits in the gap. The usual sign is a crack along the barrel, and the usual result of missing it is a dismasting.
How a surveyor inspects the rig
From deck level, every lower terminal, turnbuckle and clevis pin, with a magnifier on the swages. SAIL's checklist: cracks, usually running lengthwise, broken wires where the shroud enters the terminal, and terminals or stays out of line. A terminal that's been bent will crack first.
The top terminals are where a deck-level survey stops. A pre-purchase survey usually inspects from deck and says so; a rig survey goes aloft. Where a line on a terminal could be a crack, dye penetrant settles it. SAIL notes that internal corrosion and poor swaging can cause failure with nothing visible, which is why age matters as much as appearance.
Age, records and insurers
SAIL gives 10 to 15 years as the generally accepted life of standing rigging, and reports that most insurers expect replacement about every 10 years. So the surveyor asks for the invoice. Rigging with no record is treated as original, and on an older boat that usually means a B with a budget line, even when nothing looks wrong from deck.