= 345:20 = A 20-year term permanent disability policy for (45) that pays $1,500 per week in the case of a life event (illness or injury) that causes permanent disability. The policy also includes a death benefit of $25,000 payable at the end of week of death. Premiums are paid weekly while in the healthy state. The interest rate is 6%. Forces of Transition Actuarial Values Healthy Disability (0) (1) (52) 00 41 = 0.01 = 5.70699 u 2 = 0.00022 +2.7 x 10-6. 1.124* ,,(52) 01 345:20 = 0.84260 Lapse M12 = 0.02022 +2.7 x 10-6. 1.124* 1 (52) 02 45:20 = 0.02672 (3) (2) 4 3 = 0.10 Write formulas for the probability of transitioning to the disabled state at time k and the transition to disabled annuity factor. You may use the u symbols rather than written out formulas for the forces of transition in the probability formula and use probability symbols in the annuity factor. Death A 01. kP45: ;;(52) 01. 45:20 Find the premium for the policy. Premium: = 345:20 = A 20-year term permanent disability policy for (45) that pays $1,500 per week in the case of a life event (illness or injury) that causes permanent disability. The policy also includes a death benefit of $25,000 payable at the end of week of death. Premiums are paid weekly while in the healthy state. The interest rate is 6%. Forces of Transition Actuarial Values Healthy Disability (0) (1) (52) 00 41 = 0.01 = 5.70699 u 2 = 0.00022 +2.7 x 10-6. 1.124* ,,(52) 01 345:20 = 0.84260 Lapse M12 = 0.02022 +2.7 x 10-6. 1.124* 1 (52) 02 45:20 = 0.02672 (3) (2) 4 3 = 0.10 Write formulas for the probability of transitioning to the disabled state at time k and the transition to disabled annuity factor. You may use the u symbols rather than written out formulas for the forces of transition in the probability formula and use probability symbols in the annuity factor. Death A 01. kP45: ;;(52) 01. 45:20 Find the premium for the policy. Premium