Using the premium schedules provided in Exhibit 8.2, Exhibit 8.3, and Exhibit 8.5, how much in annual premium would a 25-year-old male have to pay for $100,000 of annual renewable term, level premium term, and whole life insurance? (Assume a 10-year term or period of coverage.) How much would a 25-year-old woman have to pay for the same coverage? (Hint: Use the average of the first and the last years' premiums in your calculations for the annual renewable term life insurance.) Round your answers to the nearest dollar.

	Annual Renewable Term	Level-Premium Term	Whole Life
Male	$	$	$
Female	$	$	$

Consider a 40-year-old male (or female): Using annual premiums, compute the total cost of 10 years of coverage under annual renewable and level premium term options and whole life insurance coverage. (Hint: Use the average of the first and the last years' premiums in your calculations for the annual renewable term life insurance.) Round your answers to the nearest dollar.

	Annual Renewable Term	Level-Premium Term	Whole Life
Male	$	$	$
Female	$	$	$

Relate the advantages and disadvantages of each policy type to their price differences.

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