EXHIBIT 8.2 Representative Annual Renewable Term Life Insurance Premiums: $100,000 Policy, Preferred Nonsmoker Rates When you buy term life insurance, you're buying a product that provides life insurance coverage and nothing more. This table shows representative rates for several age categories and selected policy years; actual premiums increase every year. As you can see, females pay less than males for coverage, and premiums increase sharply with age. AGE 25 AGE 40 Policy Year Male Female Male Female 1 $164 $143 $188 $178 5 $167 $150 $228 $225 10 $174 $163 $297 $264 15 $186 $176 $388 $330 20 $228 $225 $550 $443 EXHIBIT 8.3 Representative Level Premium Term Life Rates: $100,000 Preferred Nonsmoker Policy This table shows representative annual premiums for $100,000 of level premium term life insurance. Although level premium costs less than annual renewable term for the same period, you must requalify at the end of each term to retain the low premium. 10 YEAR 15 YEAR Age Male/Female Male/Female 25 $120/$108 $120/$108 35 $125/$120 $131/$122 40 $144/$135 $154/$145 50 $216/$185 $257/$213 60 $450/$324 $567/$412 EXHIBIT 8.5 Representative Whole Life Insurance Annual Premiums: $100,000 Policy, Preferred Nonsmoker Rates Uke any life insurance product whole life is more expensive the older vou are. Also whale EXHIBIT 8.3 Representative Level Premium Term Life Rates: $100,000 Preferred Nonsmoker Policy This table shows representative annual premiums for $100,000 of level premium term life insurance. Although level premium costs less than annual renewable term for the same period, you must requalify at the end of each term to retain the low premium. 10 YEAR 15 YEAR Age Male/Female Male/Female 25 $120/$108 $120/$108 35 $125/$120 $131/$122 40 $144/$135 $154/$145 50 $216/$185 $257/$213 60 $450/$324 $567/$412 EXHIBIT 8.5 Representative Whole Life Insurance Annual Premiums: $100,000 Policy, Preferred Nonsmoker Rates Like any life insurance product, whole life is more expensive the older you are. Also, whole life is more costly than term because you're getting an investment/savings account, represented by the "total cash value" column, in addition to life insurance coverage. ANNUAL PREMIUM Age Male Female 25 $1,057 $956 30 $1,218 $1,099 35 $1,454 $1,278 40 $1,749 $1,499 $1,260 $2,183 60 $4,569 $3,562 50 Using the premium schedules nrovided in Exhihit en Policy Preferred Nonsmoker Rates Like any life insurance product, whole life is more expensive the older you are. Also, whole life is more costly than term because you're getting an investment/savings account, represented by the total cash value column, in addition to life insurance coverage. ANNUAL PREMIUM Age Male Female 25 $1,057 $956 30 $1,218 $1,099 35 $1,454 $1,278 40 $1,749 $1,499 50 $1,260 $2,183 60 $4,569 $3,562 Using the premium schedules provided in Exhibit 8.2, 8.3, and 8.5, how much in annual premium would a 25-year-old male have to pay for $100,000 of annual renewable term, level premium term, and whole life insurance? (Assume a 15-year term or period of coverage.) How much would a 25-year-old woman have to pay for the same coverage? Round your answers to the nearest dollar. Annual Renewable Term Level-Premium Term Whole Life Male Female Consider a 40-year-old male (or female): Using annual premiums, compute the total cost of 15 years of coverage under annual renewable and level premium term options and whole life insurance coverage. Relate the advantages and disadvantages of each policy type to their price differences. Round your answers to the nearest dollar. Annual Renewable Term Level-Premium Term Whole Life Male Female $ EXHIBIT 8.2 Representative Annual Renewable Term Life Insurance Premiums: $100,000 Policy, Preferred Nonsmoker Rates When you buy term life insurance, you're buying a product that provides life insurance coverage and nothing more. This table shows representative rates for several age categories and selected policy years; actual premiums increase every year. As you can see, females pay less than males for coverage, and premiums increase sharply with age. AGE 25 AGE 40 Policy Year Male Female Male Female 1 $164 $143 $188 $178 5 $167 $150 $228 $225 10 $174 $163 $297 $264 15 $186 $176 $388 $330 20 $228 $225 $550 $443 EXHIBIT 8.3 Representative Level Premium Term Life Rates: $100,000 Preferred Nonsmoker Policy This table shows representative annual premiums for $100,000 of level premium term life insurance. Although level premium costs less than annual renewable term for the same period, you must requalify at the end of each term to retain the low premium. 10 YEAR 15 YEAR Age Male/Female Male/Female 25 $120/$108 $120/$108 35 $125/$120 $131/$122 40 $144/$135 $154/$145 50 $216/$185 $257/$213 60 $450/$324 $567/$412 EXHIBIT 8.5 Representative Whole Life Insurance Annual Premiums: $100,000 Policy, Preferred Nonsmoker Rates Uke any life insurance product whole life is more expensive the older vou are. Also whale EXHIBIT 8.3 Representative Level Premium Term Life Rates: $100,000 Preferred Nonsmoker Policy This table shows representative annual premiums for $100,000 of level premium term life insurance. Although level premium costs less than annual renewable term for the same period, you must requalify at the end of each term to retain the low premium. 10 YEAR 15 YEAR Age Male/Female Male/Female 25 $120/$108 $120/$108 35 $125/$120 $131/$122 40 $144/$135 $154/$145 50 $216/$185 $257/$213 60 $450/$324 $567/$412 EXHIBIT 8.5 Representative Whole Life Insurance Annual Premiums: $100,000 Policy, Preferred Nonsmoker Rates Like any life insurance product, whole life is more expensive the older you are. Also, whole life is more costly than term because you're getting an investment/savings account, represented by the "total cash value" column, in addition to life insurance coverage. ANNUAL PREMIUM Age Male Female 25 $1,057 $956 30 $1,218 $1,099 35 $1,454 $1,278 40 $1,749 $1,499 $1,260 $2,183 60 $4,569 $3,562 50 Using the premium schedules nrovided in Exhihit en Policy Preferred Nonsmoker Rates Like any life insurance product, whole life is more expensive the older you are. Also, whole life is more costly than term because you're getting an investment/savings account, represented by the total cash value column, in addition to life insurance coverage. ANNUAL PREMIUM Age Male Female 25 $1,057 $956 30 $1,218 $1,099 35 $1,454 $1,278 40 $1,749 $1,499 50 $1,260 $2,183 60 $4,569 $3,562 Using the premium schedules provided in Exhibit 8.2, 8.3, and 8.5, how much in annual premium would a 25-year-old male have to pay for $100,000 of annual renewable term, level premium term, and whole life insurance? (Assume a 15-year term or period of coverage.) How much would a 25-year-old woman have to pay for the same coverage? Round your answers to the nearest dollar. Annual Renewable Term Level-Premium Term Whole Life Male Female Consider a 40-year-old male (or female): Using annual premiums, compute the total cost of 15 years of coverage under annual renewable and level premium term options and whole life insurance coverage. Relate the advantages and disadvantages of each policy type to their price differences. Round your answers to the nearest dollar. Annual Renewable Term Level-Premium Term Whole Life Male Female $