Assume that 1000 students, all healthy, all age 22, and allmale, form a life insurance pool to pay $500 to the beneficiariesof any member who dies in the next 365 days. The chance of loss orprobabi Assume that 1000 students, all healthy, all age 22 , and all male, form a life insurance pool to pay \( \$ 500 \) to the beneficiaries of any member who dies in the next 365 days. The chance of loss o 2 answers