for the last blank the options are level premium and annual renewable

Sunita is a 60-year-old female who has recently become the legal guardian and sole caretaker of her three-year-old grandson. Ideally, she would like to purchase permanent insurance coverage, but her primary concern is making sure her grandson will be taken care of financially if she dies before he begins college. Given her current financial situation, she is interested in a term life insurance policy that will last 15 years Sunita goes to an insurance broker to purchase a policy and is shown the following two rate tables to help her choose between annual renewable and level premium term life insurance Yearly Rates on Term Life Insurance Policies Annual Renewable Term Life Rates Age 25 $119 $147 $176 $259 $625 $2,135 $3,777 Policy Year Age 40 Age 60 $139 $252 $219$562 $507 $1,313 $1,054 $2,989 $897$2,100 $6,205 $11,987 $8,287 $22,346 15 Total Cost 5 Years: Total Cost 15 Years: Total Cost 20 Years: Level Premium Term Life Rates Age 5 Year 25 $102 35 $101 40 $119 50 $136 60 $245 15 Year 20 Yea $84 $84 $102 $167 $295 $95 $95 $113 $195 $394 Given her age and desired policy term, she can purchase an annual renewable term life policy and pay$ in the first year and a total over the course of the policy. Alternatively, she can purchase a level premium term life policy and pay a premium per year for a total of $ over the course of the policy This example is representative of why, in general, people today purchase term life insurance