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A 15-year endowment assurance policy is issued to a group of lives aged 45 with a sum assured of RM300,000 payable at the end of
A 15-year endowment assurance policy is issued to a group of lives aged 45 with a sum assured of RM300,000 payable at the end of the year of death or if the life survives to the maturity date. Net premiums are payable annually in advance. . You are given the following information: Reserve at the start of the 10th year (per policy in force): RM172,183 Number of policies in force at the start of the 10th year: 775 number of deaths during the 10th year: 3 Assuming that reserves are calculated according to the basis specified below, calculate the profit or loss arising from mortality in the 10th year. Basis: Mortality: AM92 Ultimate Interest: 6% pa interest Expenses: None A 15-year endowment assurance policy is issued to a group of lives aged 45 with a sum assured of RM300,000 payable at the end of the year of death or if the life survives to the maturity date. Net premiums are payable annually in advance. . You are given the following information: Reserve at the start of the 10th year (per policy in force): RM172,183 Number of policies in force at the start of the 10th year: 775 number of deaths during the 10th year: 3 Assuming that reserves are calculated according to the basis specified below, calculate the profit or loss arising from mortality in the 10th year. Basis: Mortality: AM92 Ultimate Interest: 6% pa interest Expenses: None
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