For a whole life policy of 1,000 at age 60 with death benefit payable at end of
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Question:
- For a whole life policy of 1,000 at age 60 with death benefit payable at end of year you are given :
- ä60: 10| = 7.9
- ä60: 20| = 12.4
- a60 = 13.9
- d = .05
- The expected Company expenses, payable at beginning of year; and
- 50 in 1st year
- 20 in years 2 through 10
- 15 in years 11 through 20
- 0 thereafter
Calculate the level annual gross premium. The premium is payable for life at the beginning of the year.
Related Book For
Personal Finance
ISBN: 978-0077861643
11th edition
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
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