3. Depicted in the picture below is the graph of the size of the continuous insurance benefits for a policy of term 20 years. Determine how the shape of the benefit can be constructed using policies involving variations of insurance benefits that are constant (like , for instance) and linearly increasing (like I A.). Provide two different combinations: i) a combination that can include the use of deferred insurance, and ii) a combination without any deferred insurance policies. You can include "minus" any number of term insurance benefits. For number (ii), I recommend starting from the right side of the picture and working left. $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 0 2 4 6 8 10 12 14 16 18 20 4. Similar to the previous question, find some combination of term insurance involving fixed payouts, and increasing payouts (IA) in order to provide a 25-year-old insurance that pays $300,000 at the end of the year of death if death occurs before the age of 40, but for which the benefit then decreases linearly down to a benefit of zero after turning 60. The benefit then remains at zero thereafter. As in the previous question, answer with and without using deferred insurance. 3. Depicted in the picture below is the graph of the size of the continuous insurance benefits for a policy of term 20 years. Determine how the shape of the benefit can be constructed using policies involving variations of insurance benefits that are constant (like , for instance) and linearly increasing (like I A.). Provide two different combinations: i) a combination that can include the use of deferred insurance, and ii) a combination without any deferred insurance policies. You can include "minus" any number of term insurance benefits. For number (ii), I recommend starting from the right side of the picture and working left. $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 0 2 4 6 8 10 12 14 16 18 20 4. Similar to the previous question, find some combination of term insurance involving fixed payouts, and increasing payouts (IA) in order to provide a 25-year-old insurance that pays $300,000 at the end of the year of death if death occurs before the age of 40, but for which the benefit then decreases linearly down to a benefit of zero after turning 60. The benefit then remains at zero thereafter. As in the previous question, answer with and without using deferred insurance