Calculate the cash surrender value for Lee Chin, age 42, who purchased a $320,000 straight life policy. At the end of year 20, Lee stopped paying premiums. (Use Table 20.2.) What is the cash surrender value?______________

Calculate the reduced paid-up insurance for Lee Chin, age 38, who purchased a $380,000 straight life policy. At the end of year 10, Lee stopped paying premiums.

What is the Reduced paid-up insurance?_________________

Nonforfeiture options based on $1,000 face value