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1.) (10 points) a) (6 points) Write the Random Variable and actuarial notation for the following: i. A monthly-pay whole life annuity due with a
1.) (10 points) a) (6 points) Write the Random Variable and actuarial notation for the following: i. A monthly-pay whole life annuity due with a $1,200 annual benefit on (45) ii. An insurance benefit that pays $2,000 upon death during the 1" 10 years, $1,000 upon death during the 2 10 years, and $500 after 20 years of survival. iii. A $10,000 5-year deferred 10-year term-life annuity on (35) b) (2 points) Assuming that mortality follows the SULT table, and i = 5%, calculate the EPV of (ii), the insurance benefit, above. c) (2 points) For (iii), the deferred annuity, calculate Pr(Y> 0) where Y refers to the random variable of the present value of the benefit 1.) (10 points) a) (6 points) Write the Random Variable and actuarial notation for the following: i. A monthly-pay whole life annuity due with a $1,200 annual benefit on (45) ii. An insurance benefit that pays $2,000 upon death during the 1" 10 years, $1,000 upon death during the 2 10 years, and $500 after 20 years of survival. iii. A $10,000 5-year deferred 10-year term-life annuity on (35) b) (2 points) Assuming that mortality follows the SULT table, and i = 5%, calculate the EPV of (ii), the insurance benefit, above. c) (2 points) For (iii), the deferred annuity, calculate Pr(Y> 0) where Y refers to the random variable of the present value of the benefit
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