Barry and Steve are both age 61. Barry has just purchased a whole life insurance policy. Steve purchased a whole life insurance policy oneyear ago.Both Barry and Steve are subject to the following 3-year select and ultimate table:42]l[x]+1l[x]+2lx+310,000 9,600 8,640 7,771 6361 8,654 8,1356,996 5,737 6462 7,119 6,549 5,501 4,016 6563 5,760 4,954 3,765 2,410 66I60x+3The force of mortality is constant over each year of age.Calculate the difference in the probability of survival to age 64.5 between Barry and Steve.

Whole life insurance is a type of permanent life insurance policy that provides coverage for the…

Barry and Steve are both age 61. Barry has just purchased a whole life insurance policy. Steve purchased a whole life insurance policy one year ago. Both Barry and Steve are subject to the following 3-year select and ultimate table: 1[2] _l[z]+1_____l[z]+2 11+3 60 10,000 9,600 8,640 7,771 63 8,654 8,135 6,996 5,737 64 62 7,119 6,549 5,501 4,016 65 63 5,760 4,954 3,765 2,410 66 I 61 x+3 The force of mortality is constant over each year of age. Calculate the difference in the probability of survival to age 64.5 between Barry and Steve.

Barry and Steve are both age 61. Barry has just purchased a whole life insurance policy. Steve purchased a whole life insurance policy one year ago. Both Barry and Steve are subject to the following 3-year select and ultimate table: 1[2] _l[z]+1_____l[z]+2 11+3 60 10,000 9,600 8,640 7,771 63 8,654 8,135 6,996 5,737 64 62 7,119 6,549 5,501 4,016 65 63 5,760 4,954 3,765 2,410 66 I 61 x+3 The force of mortality is constant over each year of age. Calculate the difference in the probability of survival to age 64.5 between Barry and Steve.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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