group of

$1$

$0$

$0$

$,$

$0$

$0$

$0$

$$males$,$ age

$3$

$0$

$,$

$$wishes to contribute each year an amount to a common fund

sufficient to pay $

$1$

$,$

$0$

$0$

$0$

$$to the dependents of each group member who dies during the year. Use

the mortality table in Exhibit

$9$

$-$

$1$

$($

See the last page of this assignment

$)$

$$to determine the

following.

i

$.$

$$How many members of the group can be expected to die during the year?

ii

$.$

$$What amount must each of the

$1$

$0$

$0$

$,$

$0$

$0$

$0$

$$members contribute at the beginning of the

year to provide $

$1$

$,$

$0$

$0$

$0$

$$for the dependents of those who die before the end of the year?

b

$.$

i

$.$

$$State the three methods of determining life insurance requirements.

ii

$.$

$$Analyze the three methods of determining life insurance requirements. Which method

is best, and why?