term insurance with sum insured $1000 payable at the end of the year of death. Let us suppose that the life is subject to a mortality of rate of 0.01 over the year, that the insurer can earn interest at 5% per year, and that there are no

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Consider a life who purchases a one-year term insurance with sum insured $1000 payable at the end of the year of death. Let us suppose that the life is subject to a mortality of rate of 0.01 over the year, that the insurer can earn interest at 5% per year, and that there are no expenses. Suppose that this insurance is offered to 2321 policyholders. Find the premium based on the portfolio percentile premium principle so that the probability of the total future loss is negative is 95%. 

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