SimplyInsure is an insurance company that does not tailor contracts specifically to individuals. Instead, it offers a standard contract with the premium r = $100 and payout q = $500 to anyone who will purchase it. Peter has healthy-state income IH = $500 and sick-state income IS = $0. He has a probability of getting sick of p = 0.1. Is the standard contract fair for Peter? Is it full? If he ends up getting sick, what will his final income be (with insurance)?