Consider whole life insurance with a sum insured of $100,000 payable at the end of the year
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Question:
Consider whole life insurance with a sum insured of $100,000 payable at the end of the year of death, issued to a life aged 35. Annual premiums are paid at the beginning of the year for a duration of time which is the earliest of the death of the person or 20 years. Calculate the annual premium using the equivalence principle
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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