Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(80) purchases a whole life insurance policy of 100,000 payable at the end of the year of death. You are given: I. The policy is
(80) purchases a whole life insurance policy of 100,000 payable at the end of the year of death. You are given:
I. The policy is priced with a select period of one year.
II The select mortality rate equals 80% of the mortality rate from the Standard Ultimate Life Table.
III Ultimate mortality follows the Standard Ultimate Life Table. i=0.05 Calculate the actuarial present value of the death benefits for this insurance.
A.58,950
B.59,050
C.59,150
D.59,250
E.59,350
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started