(a) Operating Voltage
When in service at voltages equal to or below the rated value, the life of electrolytic capacitors is affected less by applied voltage than by operating temperature. Figures 7, 8 and 9 show life test results with various reduced voltages applied. The curves show that the life of the capacitor has not been significantly increased by a reduction in voltage. This is due to the use of proper forming voltages to minimize gas generation and leakage current. From this we can say that when capacitors are used at or below their rated voltage, the acceleration factor AV is equal to 1.
My point in choosing a capacitor to have a max voltage higher than normal is so that it handles the voltage spikes that are likely to happen. If the AC mains was perfect, it would not be a problem. But if any AC machinery or any kind of inductive load is running near the outlet to which your device is connected, if the devices do not have excellent filters, they will cause spikes on the AC line when powered off. So, a cap with a higher voltage rating will favor better than one which does not.
I am not trying to increase the life of the capacitor by choosing a higher rating. I am making it more resilient to possible spikes over the long term. That is the essence of my argument.

