Brenda purchases life insurance which will pay 100,000 if she dies during the next 5 years and
Question:
Brenda purchases life insurance which will pay 100,000 if she dies during the next 5 years and 200,000 if she dies after that. The benefits are payable at the moment of death. It is known that b — .08, and ^^ = 04 for the next 8 years and fix = .05 thereafter.
Find the net single premium for this insurance.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
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.
Question Posted: