b$.$ You have been hired as a consulting actuary so that you determine the premium that should be charged to a life policy in Country X$.$ In Country X$,$ the mortality rate is high.

You have been provided with the following information:

MORTALITY TABLE

AGE NUMBER DYING NUMBER ALIVE

$35101000$

$3620990$

$3730970$

$3840940$

$3950900$

You have been told that the cover is P$200,000$ per death and the interest rate that is applicable is $12\%$ per annum.

Required:

a$.$ For the ages $35-39,$ calculate the one$-$year term rate. $(5$ marks$)$

b$.$ Calculate the net single premium for a $5($Five$)$ year term policy at the age of $35.(5$ marks$)$

c$.$ Explain the reasons why the net single premium for a $5-$year term policy at the age of $35$ differs from the total one$-$year term rate for the ages of $35-39$ years. $(5$ marks$)$