Question
Duong owns a universal life (UL) policy with a death benefit of $200,000 and account value of $38,000. The annual mortality deduction that applies under
Duong owns a universal life (UL) policy with a death benefit of $200,000 and account value of $38,000. The annual mortality deduction that applies under the level cost of insurance (LCOI) costing is $850 and the surrender multiple is 3. How much would Duong receive if he surrenders his policy today? A. $0 B. $35,450 C. $38,000 D. $2235,450
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Public Finance
Authors: Harvey S Rosen
7th Edition
0072876484, 978-0072876482
