Macroeconomics questions below

Example 7.3.1. Ten years ago, a man now aged 40 effected a whole of life assurance for a sum assured of f10000, payable at the end of the year of death, by level annual premiums. The premiums were calculated using A1967-70 ultimate 4% and an allowance for expenses of 50% of the first year's premium and 5% of each subsequent premium. Immediately before payment of the eleventh annual premium the man requests that the policy be converted into an endowment assurance maturing on his sixtieth birthday, with the annual premium remaining unaltered. Calculate his revised sum assured using a full preliminary term reserve (on A1967-70 ultimate, 4% interest) for finding the reserve of the original policy, and A1967-70 ultimate, 4% interest, expenses of 5% of premiums for calculating the reserve of the new policy.Example 7.3.2. An office issued a ten-year endowment assurance to a man aged exactly 45. The monthly premium was f25 during the first five years increasing to f50 thereafter. The sum assured, payable immediately on death, was calculated using A1967-70 select 4%, allowing for expenses of fl per month with additional initial expenses of 2,% the sum assured. After five years the man requested that the premium remain at f25 per month for the next five years, with the death benefit staying unaltered. Calculate the reduced sum payable on survival using the premium basis and allowing for a $30 alteration charge.1 Explain briefly how a life office calculates the new sum assured or annual premium on the alteration or conversion of an existing policy. 2 A life office issued a whole life without profits policy to a woman aged 30, with sum assured of f110,000. Premiums were payable annually in advance throughout life, and the sum assured was payable at the end of the year of death. Immediately before payment of the 15th premium, the policyholder requests that the policy be converted to a without profits endowment assurance for the same sum assured, payable on maturity at age 60 or at the end of the year of death, if before age 60. The office calculates premiums and maintains reserves on the basis of A1967-70 ultimate mortality and 4% per annum interest, with expenses of 4% of each premium. Expenses of alteration may be ignored. Find the revised annual premium