Question: BSA 4230: Practical Actuarial Modelling (Practice Assignment 3) Mortgage Protection Part I You work in the actuarial department of an insurance company You have been

BSA 4230: Practical Actuarial Modelling (Practice Assignment 3) Mortgage Protection Part I You work in the actuarial department of an insurance company You have been asked to develop a competitive Term Assurance product to be sold to policyholders between the ages of 25 to 55 Develop a model to calculate the premiums on this policy based on the following assumptions: 1. Sum Assured 2. Premium Payment Frequency 3. Age at Entry (Years) 4. Term of the Policy (Years) 5. Interest Rate 6. Life Table 7. Expenses are as per the table below

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