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A participating ordinary life policy in the amount of $10,000 is sold to an individual, age 35 . The following cost data are given: Cash
A participating ordinary life policy in the amount of $10,000 is sold to an individual, age 35 . The following cost data are given: Cash value at end of 20 years $3,620 Accumulated value of the annual premiums at 5 percent for 20 years $7100 Accumulated value of the dividends at 5 percent for 20 years $2,352 Amount to which $1 deposited annually at the beginning of each year will accumulate in 20 years at 5 percent $34.719 Compute the annual net payment cost index per $1,000 of life insurance at the end of 20 years (keep two decimal places)
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