4. An insurer issues a 20-year term life insurance policy with a sum insured of 1,000,000 to (45). You are given the following information: (i) The sum insured is paid at the end of the month of death. (ii) Premiums are payable monthly for 10 years. (iii) Initial expenses, payable at the start of the policy, are 50% of the annualized premium. (iv) Maintenance expenses are 10% of premiums including the first. (V) Mortality follows the Standard Ultimate Life Table. (vi) Deaths are uniformly distributed between integer ages. (vii) i = 0.05 (viii) Premiums are determined using the equivalence principle. Calculate the monthly premium for this policy. (Round your answer to the nearer multiple of 10.) (A) 280 (B) 290 (C) 300 (D) 310 (E) 320 4. An insurer issues a 20-year term life insurance policy with a sum insured of 1,000,000 to (45). You are given the following information: (i) The sum insured is paid at the end of the month of death. (ii) Premiums are payable monthly for 10 years. (iii) Initial expenses, payable at the start of the policy, are 50% of the annualized premium. (iv) Maintenance expenses are 10% of premiums including the first. (V) Mortality follows the Standard Ultimate Life Table. (vi) Deaths are uniformly distributed between integer ages. (vii) i = 0.05 (viii) Premiums are determined using the equivalence principle. Calculate the monthly premium for this policy. (Round your answer to the nearer multiple of 10.) (A) 280 (B) 290 (C) 300 (D) 310 (E) 320