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For a new life insurance product, the Nordlight Insurance Company set the following annual premium rates for each risk class $1.80 per $1,000 of coverage for preferred risks $3.20 per $1,000 of coverage for standard risks $4.00 per $1,000 of coverage for substandard risks Holly Elana has applied for $100,000 of coverage under this new product. Ms. Elana is a proposed insured who represents an average level of risk. This information indicates that Ms. Elana's annual premium amount will be $180 $300 $320

For a new life insurance product, the Nordlight Insurance Company set the following annual premium rates for each risk class $1.80 per $1,000 of coverage for preferred risks $3.20 per $1,000 of coverage for standard risks $4.00 per $1,000 of coverage for substandard risks Holly Elana has applied for $100,000 of coverage under this new product. Ms. Elana is a proposed insured who represents an average level of risk. This information indicates that Ms. Elana's annual premium amount will be $180 $300 $320

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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For a new life insurance product, the Nordlight Insurance Company set the following annual premium rates for each risk class $1.80 per $1,000 of coverage for preferred risks $3.20 per $1,000 of coverage for standard risks $4.00 per $1,000 of coverage for substandard risks Holly Elana has applied for $100,000 of coverage under this new product. Ms. Elana is a proposed insured who represents an average level of risk. This information indicates that Ms. Elana's annual premium amount will be $180 $300 $320
Transcribed Image Text:For a new life insurance product, the Nordlight Insurance Company set the following annual premium rates for each risk class $1.80 per $1,000 of coverage for preferred risks $3.20 per $1,000 of coverage for standard risks $4.00 per $1,000 of coverage for substandard risks Holly Elana has applied for $100,000 of coverage under this new product. Ms. Elana is a proposed insured who represents an average level of risk. This information indicates that Ms. Elana's annual premium amount will be $180 $300 $320
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