Question: For 6, 7 & 8, use the provided illustration for a whole life policy with Face Amount of $100,000, male age 30. Yr Age Annual

For 6, 7 & 8, use the provided illustration for a whole life policy with Face Amount of $100,000, male age 30. Yr Age Annual Premiums Annual Dividend Cash Value 1 30 1,200.00 0.00 0.00 2 31 1,200.00 2.75 169.00 3 32 1,200.00 6.19 521.00 4 33 1,200.00 13.93 1194.10 5 34 1,200.00 29.95 2429.97 6 35 1,200.00 59.90 3144.96 8. Use the provided illustration, assume 5.5% interest rate in year 4 using Belth's concept, compute the implied price of insurance, round to nearest cents and explain whether this person should surrender the policy? For 6, 7 & 8, use the provided illustration for a whole life policy with Face Amount of $100,000, male age 30. Yr Age Annual Premiums Annual Dividend Cash Value 1 30 1,200.00 0.00 0.00 2 31 1,200.00 2.75 169.00 3 32 1,200.00 6.19 521.00 4 33 1,200.00 13.93 1194.10 5 34 1,200.00 29.95 2429.97 6 35 1,200.00 59.90 3144.96 8. Use the provided illustration, assume 5.5% interest rate in year 4 using Belth's concept, compute the implied price of insurance, round to nearest cents and explain whether this person should surrender the policy
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
