Long Term Actuarial Mathematics: Semi-continuous whole life insurance

Answer is E

For a semi-continuous whole life insurance of 1000 on (50), you are given: (i) Premiums are paid at the beginning of each year, (ii) Death benefit is paid at the moment of death. (iii) The annual per policy expense is 1. (iv) There is an additional first year expense of 15. (v) The claim settlement expense of 50 is payable when the claim is paid. (vi) All expenses, except the claim settlement expense, are paid at the beginning of the year. (vii) The force of mortality is 1 450++ 50 - t (viii) i = 0.05 Calculate the level gross premium using the equivalence principle. A. 31.2 B. 31.3 C. 31.4 D. 31.5 E. 31.6