6. For this question, use i = 5% and the following values: 9x sex 10Ex 0.60655 0.60182 0.59342 0.57864 20Ex ta | Ax | 4.2 AT 0.35994 | 17.81628.0751 0.15161 0.38385 0.00893 0.34824 | 17.0245 8.0550 0.18931 0.38844 0.01461 0.32819 16.0599 | 8.0192 | 0.23524 | 0.39649 1 0.02471 0.29508 14.9041 7.9555 0.29028 0.77382 0.76687 600.00340 610.00379 620.00423 (a) A special 20-year endowment insurance policy is purchased by (45). The policy provides for a death benefit of $500,000 and an endowment of $100,000. (i) Calculate the net single premium (NSP) for this policy (nearest dollar) (3 marks) (ii) Calculate the net annual premium (NAP) payable for a maximum of 15 years (4 marks) (b) What is the net single premium of a $150,000 whole life insurance policy issued to an individual aged 62? (answer to nearest dollar) (3 marks) (c) A whole life insurance policy is issued to (50). The policy provides for a death benefit of $1,000,000 if death occurs before age 60 and $500,000 thereafter. It is purchased with net annual premiums (NAP) payable for a maximum of 10 years. What is the NAP? (4 marks) (d) A 5-year deferred whole life insurance policy is purchased by (55) with net annual premiums of $700 payable for the life of the policy (first premium paid at age 55). What is the face amount (death benefit) of this policy? (nearest dollar) (3 marks) 6. For this question, use i = 5% and the following values: 9x sex 10Ex 0.60655 0.60182 0.59342 0.57864 20Ex ta | Ax | 4.2 AT 0.35994 | 17.81628.0751 0.15161 0.38385 0.00893 0.34824 | 17.0245 8.0550 0.18931 0.38844 0.01461 0.32819 16.0599 | 8.0192 | 0.23524 | 0.39649 1 0.02471 0.29508 14.9041 7.9555 0.29028 0.77382 0.76687 600.00340 610.00379 620.00423 (a) A special 20-year endowment insurance policy is purchased by (45). The policy provides for a death benefit of $500,000 and an endowment of $100,000. (i) Calculate the net single premium (NSP) for this policy (nearest dollar) (3 marks) (ii) Calculate the net annual premium (NAP) payable for a maximum of 15 years (4 marks) (b) What is the net single premium of a $150,000 whole life insurance policy issued to an individual aged 62? (answer to nearest dollar) (3 marks) (c) A whole life insurance policy is issued to (50). The policy provides for a death benefit of $1,000,000 if death occurs before age 60 and $500,000 thereafter. It is purchased with net annual premiums (NAP) payable for a maximum of 10 years. What is the NAP? (4 marks) (d) A 5-year deferred whole life insurance policy is purchased by (55) with net annual premiums of $700 payable for the life of the policy (first premium paid at age 55). What is the face amount (death benefit) of this policy? (nearest dollar)
