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Calculate the level annual benefit premium for this insurance. #3. (25 pts) For a special fully discrete 35-payment whole life insurance on (30): (i) The
Calculate the level annual benefit premium for this insurance. #3. (25 pts) For a special fully discrete 35-payment whole life insurance on (30): (i) The death benefit is 1 for the first 20 years and is 5 thereafter. (ii) The initial benefit premium paid during the each of the first 20 years is one fifth of the benefit premium paid during each of the 15 subsequent years. (iii) Mortality follows the Illustrative Life Table. (iv) i = 0.06 (v) A30:20) = 0.32307 (vi) 30:55 = 14.835 Calculate the initial annual benefit premium
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