Using Table 19-1 and Table 19-2, calculate the annual, semiannual, quarterly, and monthly premiums (in $) for the life insurance Round your answers to the nearest cent. Face Value of Policy $45,000 Sex and Age of Insured male-50 Type of Policy 20-payment life. $ Annual Premium Semiannual Premium Quarterly Premium $ $ Monthly Premium
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- Calculate the annual premium for the following policy. (Use Table 20.1.) Amount of coverage (face value of policy) Age and sex of insured Type of insurance policy Annual premium $200,000 42 (M) 20-payment lifeUsing Table 19-1 and Table 19-2 find the following premiums for a 10-year term life insurance policy with a face value of $30,000 for a 28-year-old male. A. Annual premium B. Semiannual premium C. Quarterly premium D. Monthly premium Life Insurance—Premium FactorsPremium Paid Percent of Annual PremiumSemiannually 52%Quarterly 26%Monthly 9%Calculate the annual, semiannual, quarterly, and monthly premium for the following life insurance policy. Use Tables 19-1 and 19-2. Face Value of Sex and Age of Insured Type of Policy Policy $ 100,000 Female 29 5-Year Term Annual Semiannual Quarterl Monthly Premiu Premium y Premiu
- Find the following: (Round your answer to the nearest cent.) Face Value Age and Sex of Insured Type of Insurance Annual Premium $26,000 37F Straight LifeFor a fully discrete whole life insurance of 100,000 on (45): (i) whole life annuity on 45, a45 = 14.85 (ii)i= 0.06 Calculate the annual net premium.7. A net premium of $41 payable for life will provide (x) with either $5,000 n-year term insurance followed by $1,000 whole life insurance after age x + n, or $3,000 n-year term insurance followed by $2,000 whole life insurance after age x + n. What is 1000 · Px ? A) 17.37 B) 17.47 C) 17.57 D) 17.67 E) 17.77
- A fully discrete life insurance policy is issued to (30). The death benefit is 1000 plus the benefit reserve at the end of the year of death. The net level premium is 150, and the reserve at the end of the second policy year is 117.875. Given that q30 = q31 = .1, determine the effective interest rate i.Calculate the short-term premium and refund for the policy (in $). Use Table 19-5, if necessary. AnnualPremium CanceledAfter CanceledBy Short-Term Premium Refund $570 25 days insured $ $A death benefit on a life insurance policy can be paid in one of the following three ways: (i) A perpetuity of $250 at the end of each month (ii) $795.70 at the end of each month for n years (iii) One payment of $81,007 at the end of n years If each payment method produces the same present value for the death benefit, what is the present value of the death benefit? A. 48,300 B. 55,600 C. 61,900 D. 69,200 E. 78,500
- ABC Insurance offer term life insurance under the following terms: Guaranteed renewal Cover to age 75 Sum insured remains constant The indicative monthly premiums for $1 million coverage are as follows: Age 21 to 34 35 to 39 40 to 44 45 to 49 50 to 54 Non-smoker $101 $112 $148 $223 $387 Smoker $161 $225 $285 $485 $808 Why do the premiums increase as the age of the insured increases? In percentage terms, approximately how much more expensive is term life insurance for a smoker than a non-smoker? If the renewal of the policy was at the discretion of the insurer, would you expect the premiums to be higher or lower? Why? If the sum insured was indexed to CPI, would you expect the premiums to be higher or lower? Why? If the term of the insurance was to age 65 rather than age 75, would you expect the premiums to be higher or lower? Why? Andrea and her husband are both 45, non-smokers and considering term life insurance. Ashleigh…An insurance policy pays $50,000 immediately or $4,000 every 6 months for 10 years beginning now. What interest rate / is being used? You are given: a 19/06 11.1581 a- 11.24% 10.59% 9.93% 11.77% 19 055 11.6077 a- = 12.4622 20/05 201045 = 13.0079Give typing answer with explanation and conclusion With this type of cash value life insurance policy, the mortality charges for each year, the administrative charges, and the interest rate that you will receive are all set at the time that the policy is written: A. Whole life B. Universal life C. Variable life D. Variable universal life