At age 20, Kari purchased a whole life insurance policy with face value of $330,000. She is now 35 and wants to cancel her policy. Use Table 19-3 to calculate the amount of reduced paid-up insurance to which she is entitled (in $). 2$ TABLE 19-3 Nonforfeiture Options (per $1,000 of Face Value Issued to a Woman at Age 20) Whole Life Options 20-Payment Life Options 20-Year Endowment Options 2 3 1 2 3 2 3 Extended Extended Extended End Reduced Reduced Reduced Term Term Term of Cash Paid-Up Cash Paid-Up Cash Paid-Up Value Years Days Value Years Days Value Years Days Year Insurance Insurance Insurance 3 $ 25 2 17 S 29 $ 90 4 217 $ 39 $ 97 7 132 5 32 64 9 23 73 212 14 86 91 233 19 204 7 54 99 13 142 101 367 23 152 186 381 26 310 10 98 186 17 54 191 496 30 206 324 512 32 117 15 157 314 21 218 322 789 34 142 647 794 37 350 20 262 491 25 77 505 1,000 -Life- 1,000 1,000 -Life-
At age 20, Kari purchased a whole life insurance policy with face value of $330,000. She is now 35 and wants to cancel her policy. Use Table 19-3 to calculate the amount of reduced paid-up insurance to which she is entitled (in $). 2$ TABLE 19-3 Nonforfeiture Options (per $1,000 of Face Value Issued to a Woman at Age 20) Whole Life Options 20-Payment Life Options 20-Year Endowment Options 2 3 1 2 3 2 3 Extended Extended Extended End Reduced Reduced Reduced Term Term Term of Cash Paid-Up Cash Paid-Up Cash Paid-Up Value Years Days Value Years Days Value Years Days Year Insurance Insurance Insurance 3 $ 25 2 17 S 29 $ 90 4 217 $ 39 $ 97 7 132 5 32 64 9 23 73 212 14 86 91 233 19 204 7 54 99 13 142 101 367 23 152 186 381 26 310 10 98 186 17 54 191 496 30 206 324 512 32 117 15 157 314 21 218 322 789 34 142 647 794 37 350 20 262 491 25 77 505 1,000 -Life- 1,000 1,000 -Life-
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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Transcribed Image Text:At age 20, Kari purchased a whole life insurance policy with face value of $330,000. She is now 35 and wants to cancel her policy. Use Table 19-3 to calculate the amount of reduced paid-up insurance to which she is entitled (in $).
2$
Transcribed Image Text:TABLE 19-3 Nonforfeiture Options (per $1,000 of Face Value Issued to a Woman at Age 20)
Whole Life Options
20-Payment Life Options
20-Year Endowment Options
2
3
1
2
3
2
3
Extended
Extended
Extended
End
Reduced
Reduced
Reduced
Term
Term
Term
of
Cash
Paid-Up
Cash
Paid-Up
Cash
Paid-Up
Value
Years
Days Value
Years Days Value
Years
Days
Year
Insurance
Insurance
Insurance
3
$ 25
2
17
S 29
$ 90
4
217
$ 39
$ 97
7
132
5
32
64
9
23
73
212
14
86
91
233
19
204
7
54
99
13
142
101
367
23
152
186
381
26
310
10
98
186
17
54
191
496
30
206
324
512
32
117
15
157
314
21
218
322
789
34
142
647
794
37
350
20
262
491
25
77
505
1,000
-Life-
1,000
1,000
-Life-
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