Consider a whole life insurance policy of benefit amount $10,000 issued to an individual aged 40....

    

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Consider a whole life insurance policy of benefit amount $10,000 issued to an individual aged 40. You are given the following information: (i) (ii) (iii) (i) (ii) (iii) (iv) (v) Premiums are paid annually for a period of twenty years Gross premium reserve at time 5 = 1000 d = 0.05 Ā45 ä45 = 0.296 First Year Year 2+ = 15.67 ä45:15| = 11.45 Benefits are paid immediately at death Expenses are according to the following schedule: Per Policy 100 5 Percent of premium 60% 4% Calculate the gross annual premium. Consider a whole life insurance policy of benefit amount $10,000 issued to an individual aged 40. You are given the following information: (i) (ii) (iii) (i) (ii) (iii) (iv) (v) Premiums are paid annually for a period of twenty years Gross premium reserve at time 5 = 1000 d = 0.05 Ā45 ä45 = 0.296 First Year Year 2+ = 15.67 ä45:15| = 11.45 Benefits are paid immediately at death Expenses are according to the following schedule: Per Policy 100 5 Percent of premium 60% 4% Calculate the gross annual premium.

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To complete the requirements in Section E we need to prepare a cash budget for the coming year taking into account patient revenues and cash collectio... View the full answer