Midi Page 7 of 7 6. (15 points) A husband and wife, aged 65 and 60 respectively, purchase an insurance policy, under which the benefits payable on first death are a lump sum of $10000, payable immediately on death, plus an annuity of $5000 per year payable continuously throughout the lifetime of the surviving spouse. A benefit of $1000 is paid immediately on the second death. Premiums are payable continuously until the first death. You are given that Aso = 0.353789, A65 = 0.473229 and that 60:65 = 0.512589 at 4% per year effective rate of interest. The lives are assumed to be independent. (a) Calculate the EPV of the lump sum death benefits, at 4% per year interest. (b) Calculate the EPV of the reversionary annuity benefit, at 4% per year interest. (c) Calculate the annual rate of premium, at 4% per year interest. Midi Page 7 of 7 6. (15 points) A husband and wife, aged 65 and 60 respectively, purchase an insurance policy, under which the benefits payable on first death are a lump sum of $10000, payable immediately on death, plus an annuity of $5000 per year payable continuously throughout the lifetime of the surviving spouse. A benefit of $1000 is paid immediately on the second death. Premiums are payable continuously until the first death. You are given that Aso = 0.353789, A65 = 0.473229 and that 60:65 = 0.512589 at 4% per year effective rate of interest. The lives are assumed to be independent. (a) Calculate the EPV of the lump sum death benefits, at 4% per year interest. (b) Calculate the EPV of the reversionary annuity benefit, at 4% per year interest. (c) Calculate the annual rate of premium, at 4% per year interest