For a universal life insurance policy with a death benefit of 150,000, you are given: a)...
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For a universal life insurance policy with a death benefit of 150,000, you are given: a) The following information: Policy Year Monthly Premium 2000 Percent of Premium Charge 3.5% Monthly Cost of Insurance Rate per 1000 1.00 1 b) (12) = 0.06 c) The account value at the end of month 11 is 25,000. d) The account value is updated monthly. Calculate the account value at the end of month 12. Monthly Expense Charge 50 For a universal life insurance policy with a death benefit of 150,000, you are given: a) The following information: Policy Year Monthly Premium 2000 Percent of Premium Charge 3.5% Monthly Cost of Insurance Rate per 1000 1.00 1 b) (12) = 0.06 c) The account value at the end of month 11 is 25,000. d) The account value is updated monthly. Calculate the account value at the end of month 12. Monthly Expense Charge 50
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Monthly Insurance cost Death Benefit 1000 15000 1000 150 W... View the full answer
Related Book For
Personal Finance An Integrated Planning Approach
ISBN: 978-0136063032
8th edition
Authors: Ralph R Frasca
Posted Date:
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