Suppose your annual premium for a $20,000, twenty-year limited-payment policy is $420 over the twenty-year period. The
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Suppose your annual premium for a $20,000, twenty-year limited-payment policy is $420 over the twenty-year period. The cash value of your policy at the end of 20 years is $9,200. Assume that you could have invested the annual premium in a mutual fund yielding 7 percent annually. What is the net cost of your insurance for the 20-year period?
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Related Book For 
Focus On Personal Finance
ISBN: 9780073382425
3rd Edition
Authors: Jack Kapoor, Les Dlabay, Robert Hughes
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