Question 3 Mark Adam, age 59, works for an insurance company. His current salary is 198,000 and will increase by 6,000 each year on his birthday. Adam plans to work for the company until retirement at age 65. The company offers Adam a death benefit, payable at the end of the year of death, equal to a single sum of 150% of annual salary at the time of death, provided death occurs before retirement You are given: i. The following double-decrement table, where r-retirement, and d - death La 59 1000 16 11 60 973 20 12 61 941 21 13 62 907 20 15 63 872 22 16 64 834 25 16 65 793 793 0 1. i 0.02 Calculate the actuarial present value of Adam's death benefit. Previous Overview Next Question 3 Mark Adam, age 59, works for an insurance company. His current salary is 198,000 and will increase by 6,000 each year on his birthday. Adam plans to work for the company until retirement at age 65. The company offers Adam a death benefit, payable at the end of the year of death, equal to a single sum of 150% of annual salary at the time of death, provided death occurs before retirement You are given: i. The following double-decrement table, where r-retirement, and d - death La 59 1000 16 11 60 973 20 12 61 941 21 13 62 907 20 15 63 872 22 16 64 834 25 16 65 793 793 0 1. i 0.02 Calculate the actuarial present value of Adam's death benefit. Previous Overview Next