Question: Please help me to get correct solutions for the question below A life insurance company issues a 30-year with profits endowment assurance policy to a

Please help me to get correct solutions for the question below

Please help me to get correct solutions for the
A life insurance company issues a 30-year with profits endowment assurance policy to a life aged 35 exact. The sum assured of f 100,000 plus declared reversionary bonuses are payable on survival to the end of the term or immediately on death if earlier. (1) Show that the quarterly premium payable in advance throughout the term of the policy or until carlier death is approximately $616. Pricing basis: Mortality: AM92 Select Interest: 6% per annum Initial commission: 100% of the first quarterly premium Initial expenses: 6250 paid at policy commencement date Renewal commission: 2.5% of each quarterly premium from the start of the second policy year Renewal expenses: E45 at the start of the second and subsequent policy years Claim expense: E500 on death: 1250 on maturity Future reversionary bonus: 1.92308% of the sum assured, compounded and vesting at the end of each policy year (i.e. the death benefit does not include any bonus relating to the policy year of death) [ot] At the end of the 25" policy year, the actual past bonus additions to the policy have been (145,000. (ii) Calculate the gross prospective policy reserve at the end of that policy year immediately before the premium then due. Policy reserving basis: Mortality: AM92 Ultimate Interest: 4% per annum Bonus loading: 4% of the sum assured and attaching bonuses. compounded and vesting at the end of each policy year Renewal commission: 2.5% of each quarterly premium Renewal expenses: 690 at the start of each policy year Claim expense: E1,000 on death; $500 on maturity [6] [Total 16]

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