5. ABC LifeCo issues a 20-year deferred life annuity contract to a policyholder currently age 45. You are given: Premiums: Level annual benefit premiums of P are to be paid annually during the deferral period. Benefits: The annuity benefit of $80,000 is to be paid at the beginning of each year the policyholder is alive, with the first payment to be made when he reaches age 65. A death benefit of $400,000 is to be paid at the end of the year of death, only if death occurs during the deferral period Mortality and Interest: Illustrative Life Table with i = 6% Calculate the annual benefit premium, P. 5. ABC LifeCo issues a 20-year deferred life annuity contract to a policyholder currently age 45. You are given: Premiums: Level annual benefit premiums of P are to be paid annually during the deferral period. Benefits: The annuity benefit of $80,000 is to be paid at the beginning of each year the policyholder is alive, with the first payment to be made when he reaches age 65. A death benefit of $400,000 is to be paid at the end of the year of death, only if death occurs during the deferral period Mortality and Interest: Illustrative Life Table with i = 6% Calculate the annual benefit premium, P