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(b) For a special whole life insurance issued to (45), you are given: • Death benefits are payable at the end of the year of death. The benefit amount is $100,000 in the first 10 years of death, decreasing to $50,000 thereafter until reaching age 65. A benefit amount of $100,000 is paid if the insured reaches age 65. There are no benefits to be paid past the age of 65. • Mortality follows the Illustrative Life Table at i = 6% Calculate the actuarial present value (APV) for this insurance.

(b) For a special whole life insurance issued to (45), you are given: • Death benefits are payable at the end of the year of death. The benefit amount is $100,000 in the first 10 years of death, decreasing to $50,000 thereafter until reaching age 65. A benefit amount of $100,000 is paid if the insured reaches age 65. There are no benefits to be paid past the age of 65. • Mortality follows the Illustrative Life Table at i = 6% Calculate the actuarial present value (APV) for this insurance.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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(b) For a special whole life insurance issued to (45), you are given: • Death benefits are payable at the end of the year of death. The benefit amount is $100,000 in the first 10 years of death, decreasing to $50,000 thereafter until reaching age 65. • A benefit amount of $100,000 is paid if the insured reaches age 65. There are no benefits to be paid past the age of 65. • Mortality follows the Illustrative Life Table at = 6% Calculate the actuarial present value (APV) for this insurance.
Transcribed Image Text:(b) For a special whole life insurance issued to (45), you are given: • Death benefits are payable at the end of the year of death. The benefit amount is $100,000 in the first 10 years of death, decreasing to $50,000 thereafter until reaching age 65. • A benefit amount of $100,000 is paid if the insured reaches age 65. There are no benefits to be paid past the age of 65. • Mortality follows the Illustrative Life Table at = 6% Calculate the actuarial present value (APV) for this insurance.
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