7 TABLE 19-2 Life Insurance-Premium Term Insurance Permanent Insurance 5-Year Term 10-Year Term Whole 20-Payment 20-Year...

Transcribed Image Text:

7 TABLE 19-2 Life Insurance-Premium Term Insurance Permanent Insurance 5-Year Term 10-Year Term Whole 20-Payment 20-Year Life Life Endowment Factors Age Male Female Male Female Male Female Male Female Male Female 18 $2.32 $ 1.90 $4.33 $4.01 $13.22 $11.17 $23.14 $19.21 $33.22 $29.12 19 2.38 1.96 4.42 4.12 13.60 11.68 24.42 20.92 33.68 30.04 Premium Percent of 20 2.43 2.07 4.49 4.20 14.12 12.09 25.10 21.50 34.42 31.28 21 2.49 215 Paid -4.57 4.29 14.53 12.53 25.83 Annual 22.11 34.90 31.79 22 2.55 2.22 4.64 4.36 14.97 12.96 26.42 22.89 35.27 32.40 Premium 23 2.62 2.30 4.70 4.42 15.39 13.41 27.01 23.47 35.70 32.93 24 2.69 2.37 4.79 4.47 15.90 13.92 27.74 24.26 36.49 33.61 Semiannually 25 2.77 2.45 4.85 4.51 16.38 52% 14.38 28.40 25.04 37.02 34.87 26 2.84 251 4.92 4.60 16.91 14.77 29.11 25.96 37.67 Quarterly Monthly 35.30 26% 9% 27 2.90 2.58 5.11 4.69 17.27 15.23 29.97 26.83 38.23 35.96 28 2.98 2.64 5.18 4.77 17.76 15.66 30.68 27.54 38.96 36.44 29 3.07 2.70 5.23 4.84 18.12 16.18 31.52 28.09 39.42 37.21 30 3.14 2.78 5.30 4.93 18.54 16.71 32.15 28.73 40.19 37.80 35 3.43 2.92 6.42 5.35 24.19 22.52 37.10 33.12 43.67 39.19 40 4.23 3.90 7.14 6.24 27.21 25.40 42.27 36.29 48.20 42.25 45 6.12 5.18 8.81 7.40 33.02 29.16 48.73 39.08 51.11 46.04 50 9.72 8.73 14.19 9.11 37.94 33.57 56.31 44.16 58.49 49.20 55 16.25 12.82 22.03 13.17 45.83 37.02 61.09 49.40 71.28 53.16 60 24.10 19.43 37.70 24.82 53.98 42.24 70.43 52.55 79.15 58.08 Quarterly Premium SA Monthly Premium Using Table 19-1 and Table 19-2, calculate the annual, semiannual, quarterly, and monthly premiums (in $) for the life insurance policy. Round your answers to the nearest cent. Face Value of Policy Sex and Age of Insured Type of Policy $70,000 male-40 whole life A Annual Premium Semiannual Premium S tA 7 TABLE 19-2 Life Insurance-Premium Term Insurance Permanent Insurance 5-Year Term 10-Year Term Whole 20-Payment 20-Year Life Life Endowment Factors Age Male Female Male Female Male Female Male Female Male Female 18 $2.32 $ 1.90 $4.33 $4.01 $13.22 $11.17 $23.14 $19.21 $33.22 $29.12 19 2.38 1.96 4.42 4.12 13.60 11.68 24.42 20.92 33.68 30.04 Premium Percent of 20 2.43 2.07 4.49 4.20 14.12 12.09 25.10 21.50 34.42 31.28 21 2.49 215 Paid -4.57 4.29 14.53 12.53 25.83 Annual 22.11 34.90 31.79 22 2.55 2.22 4.64 4.36 14.97 12.96 26.42 22.89 35.27 32.40 Premium 23 2.62 2.30 4.70 4.42 15.39 13.41 27.01 23.47 35.70 32.93 24 2.69 2.37 4.79 4.47 15.90 13.92 27.74 24.26 36.49 33.61 Semiannually 25 2.77 2.45 4.85 4.51 16.38 52% 14.38 28.40 25.04 37.02 34.87 26 2.84 251 4.92 4.60 16.91 14.77 29.11 25.96 37.67 Quarterly Monthly 35.30 26% 9% 27 2.90 2.58 5.11 4.69 17.27 15.23 29.97 26.83 38.23 35.96 28 2.98 2.64 5.18 4.77 17.76 15.66 30.68 27.54 38.96 36.44 29 3.07 2.70 5.23 4.84 18.12 16.18 31.52 28.09 39.42 37.21 30 3.14 2.78 5.30 4.93 18.54 16.71 32.15 28.73 40.19 37.80 35 3.43 2.92 6.42 5.35 24.19 22.52 37.10 33.12 43.67 39.19 40 4.23 3.90 7.14 6.24 27.21 25.40 42.27 36.29 48.20 42.25 45 6.12 5.18 8.81 7.40 33.02 29.16 48.73 39.08 51.11 46.04 50 9.72 8.73 14.19 9.11 37.94 33.57 56.31 44.16 58.49 49.20 55 16.25 12.82 22.03 13.17 45.83 37.02 61.09 49.40 71.28 53.16 60 24.10 19.43 37.70 24.82 53.98 42.24 70.43 52.55 79.15 58.08 Quarterly Premium SA Monthly Premium Using Table 19-1 and Table 19-2, calculate the annual, semiannual, quarterly, and monthly premiums (in $) for the life insurance policy. Round your answers to the nearest cent. Face Value of Policy Sex and Age of Insured Type of Policy $70,000 male-40 whole life A Annual Premium Semiannual Premium S tA

Answer rating: 100% (QA)

To calculate the annual semiannual quarterly and monthly premiums for the given life insuran... View the full answer