For a special fully discrete 20-year endowment insurance on (40):

(i) The death benefit is 1000 for the first 10 years and 2000 thereafter. The pure endowment benefit is 5000.

(ii) The annual benefit premium, determined using the equivalence principle, is P for each of the first 10 years and 2P for each year thereafter.

(iii) The mortality follows Illustrative life table and i=6%

1. Calculate V using prospective approach

2. Calculate V using retrospective approach.

For a special fully discrete 20-year endowment insurance on (40): (1) The death benefit is 1000 for the first 10 years and 2000 thereafter. The pure endowment benefit is 5000. (ii) The annual benefit premium, determined using the equivalence principle, is P for each of the first 10 years and 2P for each year thereafter. (i) The mortality follows illustrative life table and i-6% 1. Calculate :-V using prospective approach 2. Calculate :oV using retrospective approach