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2. An insurance company uses the model above to calculate premiums for a special T-year term life insurance policy. The basic sum insured is $100,000, but the death benefit is $150,000 if death occurs as a result of an accident. The death benefit is payable immediately on death. Premi- ums are payable continuously throughout the term. The effective rate of interest is 3% per year and there are no expenses. The policy is issued to a life aged 35. 毎回 (ii) (iii) calculate the annual premium for this policy calculate the policy value at time 1, 2, 1-2, 1-1 and t in state Q comment on the results in (ii)

2. An insurance company uses the model above to calculate premiums for a special T-year term life insurance policy. The basic sum insured is $100,000, but the death benefit is $150,000 if death occurs as a result of an accident. The death benefit is payable immediately on death. Premi- ums are payable continuously throughout the term. The effective rate of interest is 3% per year and there are no expenses. The policy is issued to a life aged 35. 毎回 (ii) (iii) calculate the annual premium for this policy calculate the policy value at time 1, 2, 1-2, 1-1 and t in state Q comment on the results in (ii)

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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2. An insurance company uses the model above to calculate premiums for a special T-year term life insurance policy. The basic sum insured is $100,000, but the death benefit is $150,000 if death occurs as a result of an accident. The death benefit is payable immediately on death. Premi- ums are payable continuously throughout the term. The effective rate of interest is 3% per year and there are no expenses. The policy is issued to a life aged 35. 毎回 (ii) (iii) calculate the annual premium for this policy calculate the policy value at time 1, 2, 1-2, 1-1 and t in state Q comment on the results in (ii)
Transcribed Image Text:2. An insurance company uses the model above to calculate premiums for a special T-year term life insurance policy. The basic sum insured is $100,000, but the death benefit is $150,000 if death occurs as a result of an accident. The death benefit is payable immediately on death. Premi- ums are payable continuously throughout the term. The effective rate of interest is 3% per year and there are no expenses. The policy is issued to a life aged 35. 毎回 (ii) (iii) calculate the annual premium for this policy calculate the policy value at time 1, 2, 1-2, 1-1 and t in state Q comment on the results in (ii)
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