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A man is 35 and needs $300,000 in coverage. He opts for a whole life policy since it will also accumulate cash and force him
A man is 35 and needs $300,000 in coverage. He opts for a whole life policy since it will also accumulate cash and force him to save. Find the annual premium and the total premiums paid if he keeps the policy to age 60 Click here to view the Annual Premium rates per $1000 of Life Insurance Table Annual premium = (Simplify your answer.) (Simplify your answer.) Total premiums - Enter your answer in each of the answer boxes Lumele i Life Insurance Annual Premium Rates Table Annual Premium Rates* Per $1000 of Life Insurance 10-Year level Premium Term Whole Life Universal Life 20-Pay Life 1.60 4.07 3.48 12.30 1.65 4.26 3.85 12.95 1.69 4.37 4.10 13.72 1.73 4.45 4.56 14.28 1.78 4.68 4.80 15.95 1.82 5.06 16.60 1.89 5.66 6.08 118.78 2.01 7.68 745 21.60 2.56 12.67 10.62 24.26 3.45 19.86 15.24 28.16 5.63 26.23 21.46 32.59 31.75 28.38 38.63 60 38 42 36.72 45.74 For women, subtract 5 years from the actual age. For example, rates for a 30-year-old woman are shown for age 25 in the table. 5.11 Print Done C E TTE SOTT CULTURE
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