Question: b ) A life office issues a policy to a life aged exactly 5 0 . The contract is a 1 5 - year endowment

b) A life office issues a policy to a life aged exactly 50. The contract is a 15-year
endowment assurance policy with a sum assured of Ksh 4,500,000 payable on
maturity or at the end of the year of earlier death. Level premiums are payable
monthly in advance. Calculate the monthly premium assuming AM92
Ultimate mortality and 4% pa interest. Ignore expenses.
b) A life office issues a policy to a life aged

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