3. For a 4 year term life insurance to (94) with a death benefit of $100,000 payable at the end of the year of death and level annual premiums, the expenses are 200 per policy at issue and 40 per policy at the beginning of each year including the first year. = 3%. 461902 9+3 +3 91 0.08 0.10 0.12 0.14 94 92 0.09 0.11 0.13 0.15 95 93 0.10 0.12 0.14 0.16 96 94 0.11 0.13 0.15 0.1797 95 0.12 0.14 0.16 0.18 88 (a) (10 pts) Calculate the level gross premium using the equivalence principle. (b) (10 pts) Complete the following table: Kios ) Lo probability 0 1 2 3 4 or more (e) (10pts) Compute the variance of Los 3. For a 4 year term life insurance to (94) with a death benefit of $100,000 payable at the end of the year of death and level annual premiums, the expenses are 200 per policy at issue and 40 per policy at the beginning of each year including the first year. = 3%. 461902 9+3 +3 91 0.08 0.10 0.12 0.14 94 92 0.09 0.11 0.13 0.15 95 93 0.10 0.12 0.14 0.16 96 94 0.11 0.13 0.15 0.1797 95 0.12 0.14 0.16 0.18 88 (a) (10 pts) Calculate the level gross premium using the equivalence principle. (b) (10 pts) Complete the following table: Kios ) Lo probability 0 1 2 3 4 or more (e) (10pts) Compute the variance of Los