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actuarial math question An insurance company issued an Whole Life policy to a life aged 40. This policy pays a Death Benefit of $ 100,000

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An insurance company issued an Whole Life policy to a life aged 40. This policy pays a Death Benefit of $ 100,000 at the end of the year of death. The insured must pay premiums G at the beginning of each year as long as the insured is alive. Mortality follows Standard Ultimate Survival Model. Annual interest rate is 5 % in all years. Initial Expense is 50 % of 1st Year Premium. Agent commissions are 5 % of premium in all years, including the 1st year. (5 points) Using the Equivalent Principle, calculate the ANNUAL Gross Premium (G)- 2 decimals. An insurance company issued an Whole Life policy to a life aged 40. This policy pays a Death Benefit of $ 100,000 at the end of the year of death. The insured must pay premiums G at the beginning of each year as long as the insured is alive. Mortality follows Standard Ultimate Survival Model. Annual interest rate is 5 % in all years. Initial Expense is 50 % of 1st Year Premium. Agent commissions are 5 % of premium in all years, including the 1st year. (5 points) Using the Equivalent Principle, calculate the ANNUAL Gross Premium (G)- 2 decimals

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