Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A special three year term insurance on (x) provides the following benefits: a) 1,000 at the end of the year upon non-accidental death, decrement (1).
A special three year term insurance on (x) provides the following benefits: a) 1,000 at the end of the year upon non-accidental death, decrement (1). b) 10,000 at the end of the year upon accidental death, decrement (2). You are given: (i) The probabilities of decrement are (1) (2) k qrtk qX+k 0 0.10 0.01 1 0.12 0.02 2 0.14 0.03 (ii) i = 0.05 Calculate the annual net premium for this insurance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started