( GPS ) Fred is 50 years old today and is interested in buying a continuously payable 10 - year pay whole life insurance ( i . e . , he will pay his premium continuously for the next 10 years or until he dies , whichever comes first ) . At the moment of death he will receive 1000 . Calculate the benefit premium using the equivalence principle for this insurance . You are given the following a ) asp = 13.3 b ) ago 1 1 ( ) Also = 0.249 1 ) 10 Pso = 0.92