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10. (4 points) A fully discrete whole life insurance policy issued at age r has face amount 1,000,000. The policy expenses are: 1st Year Renewal

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10. (4 points) A fully discrete whole life insurance policy issued at age r has face amount 1,000,000. The policy expenses are: 1st Year Renewal Years Percent of Premium 20% 5% Face Amount Per Policy 1000 200 Settlement 1000 (at the end of the year of death) 5 per 1000 1 per 1000 You are given that i = 1 and , = 8.8187. Find the expense-loaded premium using the equivalence principle (nearest 1000). 10. (4 points) A fully discrete whole life insurance policy issued at age r has face amount 1,000,000. The policy expenses are: 1st Year Renewal Years Percent of Premium 20% 5% Face Amount Per Policy 1000 200 Settlement 1000 (at the end of the year of death) 5 per 1000 1 per 1000 You are given that i = 1 and , = 8.8187. Find the expense-loaded premium using the equivalence principle (nearest 1000)

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