You are given the following excerpt from a life table, including mortality rates and expected value of a 1 unit whole life insurance payable at end of year of death for (x) using an interest rate of 5%: A 9,614.46 9,525.66 60 0.009236 0.354623 60 61 0.009798 0.366503 61 62 9,432.33 9,334.07 62 0.010417 0.378742 63 0.011104 0.391338 63 64 0.011871 9,230.42 0.404290 64 65 0.012731 9,120.85 0.417591 65 66 0.013698 9,004.73 0.431230 66 67 0.014785 8,881.39 0.445191 67 8,750.07 8,610.00 68 0.016008 0.459459 68 69 0.017379 0.474012 69 70 0.018915 8,460.37 0.488829 70 You are also given that during the 2 year select period the mortality rates are a fraction of the normal mortality according to the following table: 0.90q 0.95g+1 Using survival probabilities from the select life model described above, find the value of a 5,000 5-year deferred life policy payable at the end of year of death for a policy holder [60] (select age 60). Find: 5,000 5A(60):
You are given the following excerpt from a life table, including mortality rates and expected value of a 1 unit whole life insurance payable at end of year of death for (x) using an interest rate of 5%: A 9,614.46 9,525.66 60 0.009236 0.354623 60 61 0.009798 0.366503 61 62 9,432.33 9,334.07 62 0.010417 0.378742 63 0.011104 0.391338 63 64 0.011871 9,230.42 0.404290 64 65 0.012731 9,120.85 0.417591 65 66 0.013698 9,004.73 0.431230 66 67 0.014785 8,881.39 0.445191 67 8,750.07 8,610.00 68 0.016008 0.459459 68 69 0.017379 0.474012 69 70 0.018915 8,460.37 0.488829 70 You are also given that during the 2 year select period the mortality rates are a fraction of the normal mortality according to the following table: 0.90q 0.95g+1 Using survival probabilities from the select life model described above, find the value of a 5,000 5-year deferred life policy payable at the end of year of death for a policy holder [60] (select age 60). Find: 5,000 5A(60):
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
Related questions
Question
please show working using the formulas.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL