A fully discrete whole life insurance of $100,000 is issued to a select life aged (65). Premiums are paid annually in advance for at most 10 years. Interest is 5% per year. Initial expenses are 50% of the premium plus $125. Renewal expenses are 5% of the premiums from the 2nd premium onwards. Expenses of 200 on the benefit sum insured. Use Table D Standard Select Survival Model in your calculations. (a) Calculate the premium for this policy. (b) Write an expression for Ls and calculate its mean 5V. A fully discrete whole life insurance of $100,000 is issued to a select life aged (65). Premiums are paid annually in advance for at most 10 years. Interest is 5% per year. Initial expenses are 50% of the premium plus $125. Renewal expenses are 5% of the premiums from the 2nd premium onwards. Expenses of 200 on the benefit sum insured. Use Table D Standard Select Survival Model in your calculations. (a) Calculate the premium for this policy. (b) Write an expression for Ls and calculate its mean 5V