Q $3.$ A whole life insurance policy provides a benefit of $$50,000$ payable immediately on the death of a male life who is now aged $45$ exact. Calculate, using claim accelerating approach where necessary,

$($i$)$ the expected present value of this policy.

$($ii$)$ the standard deviation of the value of this policy.

Basis:

Mortality: AM$92$ Ultimate

Interest: $4\%$ per annum

Round your final solutions to $2$ decimal places.