Practice question for Acturial MLC Exam. A life insurance company sells a portfolio of 1000 fully discrete whole life insurance policies of 500, on lives age 45. You are given: (i) There are no expenses (ii) The annual gross premium is 8.80 per policy (iii) At the end of the third policy year: -the reserve per policy is 19.90 -980 policies remain in force (iv) During the fourth policy year: -the interest earned on the assets that back these policies was j% -there were 7 deaths (v) At the end of the fourth policy year the reserve per policy is 27.77 (vi) There was no gain or loss during the fourth policy year Calculate j%