Suppose Jim purchased a $100,000 ordinary life policy at age 35 and named his wife, Jane, beneficiary. Also assume that the ordinary life portion of table 8-1 on page 8.12 of the textbook (or Slide #17) is the surrender benefit table contained in Jims policy.

oQ1. How much would Jim receive if he surrender his policy for its cash value at age 65?

oQ2. How much would Jane receive when Jim dies at age 95 if Jim had chosen the reduced paid-up insurance option at age 65?