A whole life assurance policy provides a benefit of 200,000 payable immediately on the death of a

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Question:

A whole life assurance policy provides a benefit of 200,000 payable
immediately on the death of a female life who is now aged 35 exact. Calculate, showing
all your workings:
(i.) The expected present value of this policy. (5 marks)
(ii.) The variance of the value of this policy. Basis: Mortality AM94
Ultimate Rate of interest 5% per annum (7 marks)