. G is the annual expense-loaded premium payable for life for $1,000 of insurance for a...
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. G is the annual expense-loaded premium payable for life for $1,000 of insurance for a whole life policy to (x). Expenses are: a. Commissions: 20% of G in First Year; 5% of G in renewal years. b. Settlement cost: $5 per $1000. If the policy is modified so that first year commission is 35%, while all other expenses are unchanged, the new gross premium (G') is 2% higher than G. If d = 0.06, find G. . G is the annual expense-loaded premium payable for life for $1,000 of insurance for a whole life policy to (x). Expenses are: a. Commissions: 20% of G in First Year; 5% of G in renewal years. b. Settlement cost: $5 per $1000. If the policy is modified so that first year commission is 35%, while all other expenses are unchanged, the new gross premium (G') is 2% higher than G. If d = 0.06, find G.
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Lets denote the original annual expenseloaded premium as G Given the information provided we have Fi... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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