In the valuation of life insurance and annuity contracts, comment on the following variables. a. Whether the

Question:

In the valuation of life insurance and annuity contracts, comment on the following variables.

a. Whether the policy is paid up or further premiums must be paid.

b. Who issued the policy (i.e., an insurance company or a private party).

Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...