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Consider a 35-year term insurance issued to a life aged 35 with annual premiums, with sum insured $700,000 payable at the end of the year

Consider a 35-year term insurance issued to a life aged 35 with annual premiums, with sum insured $700,000 payable at the end of the year of death.

Write down an expression for the future loss random variable. i=5%

Because of the difficulty in writing math, K stands for K₃₅ the kurtate life function for a person aged 35.

a.
L=700000 (1.05)^-(K+1)-P (1.05/.05) [ 1 - (1.05)^-(K+1)]

b.
L=700000 (1.05)^-(K+1)I_[K<35]- P (1.05/.05) [ 1 - (1.05)^{-min(K+1, 35)}]

c.
L=700000 (1.05)^-min(35,K+1)-P (1.05/.05) [ 1 - (1.05)^{-min(K+1, 35)}]

d.
L=700000 (1.05)^-K-P (1.05/.05) [ 1 - (1.05)^-K]

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	a.	L=700000 (1.05)^-(K+1)-P (1.05/.05) [ 1 - (1.05)^-(K+1)]
	b.	L=700000 (1.05)^-(K+1)I_[K<35]- P (1.05/.05) [ 1 - (1.05)^{-min(K+1, 35)}]
	c.	L=700000 (1.05)^-min(35,K+1)-P (1.05/.05) [ 1 - (1.05)^{-min(K+1, 35)}]
	d.	L=700000 (1.05)^-K-P (1.05/.05) [ 1 - (1.05)^-K]