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Consider a 5 - year term insurance of ( 3 0 ) with the death benefit of 1 , 0 0 0 payable at the
Consider a year term insurance of with the death benefit of payable at the end of the year of death. The level premiums are made at the beginning of each year until the death of the person maximum up to years. The mortality follows the illustrative life table with
a Calculate the benefit premium.
b Calculate the benefit reserve at the end of years by prospective method and retrospective method.
c Calculate the benefit reserves at the end of years by prospective method.
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