A 100,000 whole life policy is issued at age 25. Premiums are payable at the beginning of
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A 100,000 whole life policy is issued at age 25. Premiums are payable at the beginning of each year for life, and death benefits are payable at the end of the year of death. The following are required for expenses: 60% of the first year's gross premium, 20% of the gross premium in years two through five inclusive, and 10% of the gross premium in each subsequent year. Find the gross annual premium if A^25 = 120,000, Nie = 112,000, N^o = 96,000 and / = .06.
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Theory Of Interest And Life Contingencies With Pension Applications A Problem Solving Approach
ISBN: 978-1566983334
3rd Edition
Authors: Asa Michael M. Parmenter, Ph.d.
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