4. An insurer issues a Term assurance policy with sum assured of 100,000 to a select life aged 45 , with term 20 years, under which the death benefits is payable immediately on death. (a) Calculate the total amount of net premium (to 2 decimal places) payable in a year if premium are payable (i) Annually [8 marks ] (ii) Quarterly [5 marks] Mortality: AM92 (select at issue) Interest: 4% per annum effective (b) Comment on your results in (a). [3 marks]