Student Name: ID #: 4) Assume that interest rates for all maturities are 6% per annum (with annual compounding) and premiums are paid once a year at the beginning of the year. What is an insurance company's break-even premium for $100,000 of term life insurance (One-year policy) for a man of average health aged 31? (5 marks) Following is the mortality table: Male Female Probability Probability Age of Death Survival Life of Death Survival (Years) within 1 Year Probability Expectancy within 1 Year Probability 0.006990 1.00000 75.90 0.005728 1.00000 0.000447 0.99301 75.43 0.000373 0.99427 0.000301 0.99257 74.46 0.000241 0.99390 0.000233 0.99227 73.48 0.000186 0.99366 Life Expectancy 80.81 80.28 79,31 78.32 0.001419 0.001445 0.001478 0.001519 0.97372 0.97234 0.97093 0.96950 47.52 46.59 45.65 44.72 0.000662 0.000699 0.000739 0.000780 0.98551 0.98486 0.98417 0.98344 51.82 50.86 49.89 48.93