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Barry and Steve are both age 61. Barry has just purchased a whole life insurance policy. Steve purchased a whole life insurance policy one year
Barry and Steve are both age 61. Barry has just purchased a whole life insurance policy. Steve purchased a whole life insurance policy one year ago. Both Barry and Steve are subject to the following 3-year select and ultimate table: 2[x]+1 1[x]+2 2x+3 X x + 3 60 10,000 9,600 8,640 7,771 63 61 8,654 8,135 6,996 5,737 64 62 7,119 6,549 5,501 4,016 65 63 5,760 4,954 3,765 2,410 66 The force of mortality is constant over each year of age. Calculate the difference in the probability of survival to age 64.5 between Barry and Steve. (A) 0.035 (B) 0.045 (C) 0.055 (D) 0.065 (E) 0.075 Barry and Steve are both age 61. Barry has just purchased a whole life insurance policy. Steve purchased a whole life insurance policy one year ago. Both Barry and Steve are subject to the following 3-year select and ultimate table: 2[x]+1 1[x]+2 2x+3 X x + 3 60 10,000 9,600 8,640 7,771 63 61 8,654 8,135 6,996 5,737 64 62 7,119 6,549 5,501 4,016 65 63 5,760 4,954 3,765 2,410 66 The force of mortality is constant over each year of age. Calculate the difference in the probability of survival to age 64.5 between Barry and Steve. (A) 0.035 (B) 0.045 (C) 0.055 (D) 0.065 (E) 0.075
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