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Whole Life Options 3 Extended Reduced Term Cash Paid-Up 2.

Whole Life Options 3 Extended Reduced Term Cash Paid-Up 2.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 2 3 2 3 Extended Extended Extended End Reduced Reduced Reduced Term Term Term of Cash Cash Paid-Up Insurance Years Days Value Insurance Years Days Value Paid-Up Cash Paid-Up Insurance Years $ 97 Year Value Days $ 1 $ 25 2 17 $ 29 $ 90 217 S 39 4 7 132 5. 32 64 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-
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 2 3 2 3 Extended Extended Extended End Reduced Reduced Reduced Term Term Term of Cash Cash Paid-Up Insurance Years Days Value Insurance Years Days Value Paid-Up Cash Paid-Up Insurance Years $ 97 Year Value Days $ 1 $ 25 2 17 $ 29 $ 90 217 S 39 4 7 132 5. 32 64 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 $370,000. 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 $).
Transcribed Image Text:At age 20, Kari purchased a whole life insurance policy with face value of $370,000. 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 $).
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