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6. For a special fully discrete whole life insurance on (50), you are given: Expense rates are: First year Renewal year Per policy % of

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6. For a special fully discrete whole life insurance on (50), you are given: Expense rates are: First year Renewal year Per policy % of premium Per policy % of premium 5 55 3 5 . The death benefit is 5000 for the first 20 years and 2500 thereafter. . The expense-loaded premium is G for the first 20 years and 0.5G thereafter. . Mortality follows Standard Ultimate Life Table with i = 0.05. Determine the expense-loaded premium based on equivalence principle.. (10 marks

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