A life insurance company issues an increasing 10-year term assurance where the benefit, payable at the end of the year of death, is 10, 000(k + 1) if death occurs during the year k + 1 , k = 0, 1, 2, . . . , 9 . Using that the single benefit premium for this assurance for a life aged 51 is 2, 340 , calculate the single benefit premium for this assurance for a life aged 50 . Basis: Mortality: AM92 Ultimate Interest: 4% per annum