Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Matt Miller, age 28, takes out $50,000 of straight-life insurance. His annual premium is $418.20. At the end of 20 years, the cash value of
Matt Miller, age 28, takes out $50,000 of straight-life insurance. His annual premium is $418.20. At the end of 20 years, the cash value of his policy is (use the tables in the handbook): $13,250, $30,000, $26,000, $26,500
LIFE INSURANCE RATES FOR MALES (FOR FEMALES SUBTRACT 3 YEARS) Straight Twenty- Twenty-year Age term Age payment life Age endowment 20 13.85 14.35 20 20 6.35 16.05 7.55 17.66 18.33 6.85 9,56 10.29 10.70 26 1.86 1.86 8.08 20.00 20.90 30 30 8.85 12 05 12.57 30 22.89 23.98 0.20 34 10.71 35. 11,26 4.28 14.92 2.08 26.35 27.64 28.97 30.38 12.46 16.30 33.36 34.94 36.59 38.29 40.09 18.6] 15.30 4.04 20.31 4.50 17.86 22.15 "Noce itest lables art sampling of itge groups, pranium cosand insurance coverage that are availablcover 44 years NONFOREEITURE OPTIONS BASED ON $1,000 FACE VALUE Straight lif* Twenty payment life Iwenty-year endowment Years insurance policy inCash paid-up force Ertended term Amount orExtended Amount of Amount ofExtended term Cash paid-up Cash paid-up value insurance Years Day valueinsurance Years Dy valuensurance Years Day 220 76 | 186 20 165 317 21 300 475 19 E90 28 195 319 32 76 610 23 140 30 160 35 300 Life 259 371 520 790 1.000 1,000 781 265 COMPULSORY INSURANCE BASED ON CLASS OF DRIVER) DAMAGE TO SOMEONE ELSE'S PROPERTY Bodily injury to others Damage to someone Class 10M 25M SOM 100M else s 132 134 /20 Class 169 20 195 TOWING AND SUBSTITUTE TRANSPORATION Towing and labor Substitute transportation. 16Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started