2. Use the following table to calculate the minimum premium an insurance company should charge for a $2 million two-year term life insurance contract issued to a 50-year old female. Assume the premium is paid at the beginning of each year and death takes place halfway through the year.. Discount rate is 5% per annum with semi-annual compounding. Male Female Age P(Death) P(survival) P(Death) P(survival) 50 51 52 0.0050 0.0055 0.0060 0.9294 0.9247 0.9196 0.0032 0.0035 0.0038 0.9583 0.9552 0.9519