Calculate the life insurance gross premium for an insurance company, XYZ Life, under the following assumptions. Please round your answer to the nearest dollar. 1-year term insurance for a 35-year-old female The death benefit is $10,000 The probability of death within one year given a female is 35 years old (930) is 0.015 The interest rate is 1.5% All deaths occur uniformly, hence for simplicity, price the product assuming all deaths happen at the middle of the year XYZ Life is looking for a 25% loading based on the pure premium (i.e. PV of expected loss) (Hint: When loading lp, expressed as a percentage, is based on pure premium, Gross premium = Pure premium [1 + 1p]) Choose the correct answer from below. $166 $171 $149 $155 $186 Calculate the life insurance gross premium for an insurance company, XYZ Life, under the following assumptions. Please round your answer to the nearest dollar. 1-year term insurance for a 35-year-old female The death benefit is $10,000 The probability of death within one year given a female is 35 years old (930) is 0.015 The interest rate is 1.5% All deaths occur uniformly, hence for simplicity, price the product assuming all deaths happen at the middle of the year XYZ Life is looking for a 25% loading based on the pure premium (i.e. PV of expected loss) (Hint: When loading lp, expressed as a percentage, is based on pure premium, Gross premium = Pure premium [1 + 1p]) Choose the correct answer from below. $166 $171 $149 $155 $186