actuarial science

8. For a fully discrete whole life insurance policy of 100,000 on (45), you are given: (i) First year commissions are 20% of the annual gross premium (ii) Renewal year commissions are 5% of the annual gross premium (iii) Mortality follows the Illustrative Life Table (iv) i = 0.06 Calculate the annual premium for this policy using the equivalent principle. 8. For a fully discrete whole life insurance policy of 100,000 on (45), you are given: (i) First year commissions are 20% of the annual gross premium (ii) Renewal year commissions are 5% of the annual gross premium (iii) Mortality follows the Illustrative Life Table (iv) i = 0.06 Calculate the annual premium for this policy using the equivalent principle