Question: Insurance issues a 3 - year term insurance on ( x ) . Benefits are paid at the end of the year of death. Level

Insurance issues a 3-year term insurance on (x). Benefits are paid at the end of the year of death. Level premiums are paid semi-annually, starting immediately. You are given:
(i) The death benefit is $460,000 in year 1, $690,000 in year 2, and $920,000 in year 3.(ii) qx =0.025, qx+1=0.035, qx+2=0.045(iii) i =3.9%(iv) Assume constant force of mortality for fractional ages.
(a)Calculate the level net premium payable semi-annually.
(b)Calculate 1.5V

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