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The death rate table for the cohort is attached below: Death rate for Japanese female in 2019 Calculate the appropriate premium for whole life insurance
The death rate table for the cohort is attached below:
Death rate for Japanese female in 2019
Calculate the appropriate premium for whole life insurance policy of one million yen, with:
Discount rate of 3%
Nobody will live to 106
No business expenses/profits for insurer
?????????????????????????????????????? yen (no 1,000 separators)
Age Death rate 20 0,00020 21 0,00021 22 0,00022 23 0,00022 24 0,00022 25 0,00022 26 0,00023 27 0,00024 28 0,00025 29 0,00025 30 0,00027 31 0,00029 32 0,00031 33 0,00034 34 0,00037 35 0,00040 36 0,00042 37 0,00044 38 0,00047 39 0,00051 40 0,00057 41 0,00062 42 0,00068 43 0,00074 44 0,00081 45 0,00089 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 0,00099 0,00110 0,00121 0,00133 0,00243 0,00269 0,00298 0,00327 0,00359 0,00395 0,00434 0,00478 0,00530 0,00585 0,00644 0,00709 0,00777 0,00852 0,00936 0,01030 0,01138 0,01259 0,01395 0,01546 0,01694 0,01844 0,02010 66 67 68 69 70 71 72 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 0,02010 0,02204 0,02432 0,02684 0,02953 0,03229 0,03562 0,03984 0,04493 0,05072 0,05711 0,06419 0,07230 0,08179 0,09269 0,10497 0,11835 0,13221 0,14537 0,16073 0,17747 0,19568 0,21544 0,23682 0,25989 0,28471 0,31130 98 no noco 90 91 92 93 94 95 96 97 98 0,14537 0,16073 0,17747 0,19568 0,21544 0,23682 0,25989 0,28471 0,31130 0,33969 0,36985 0,40176 0,43531 0,47038 0,50680 1,00000 99 100 101 102 103 104 105 The death rate table for the cohort is attached below: FILE Death rate for Japanese female in 2019 Whole_life.xlsx - 2021-04-19 14:34:24 Calculate the appropriate premium for whole life insurance policy of one million yen, with: Discount rate of 3% Nobody will live to 106 No business expenses/profits for insurer yen (no 1,000 separators) Age Death rate 20 0,00020 21 0,00021 22 0,00022 23 0,00022 24 0,00022 25 0,00022 26 0,00023 27 0,00024 28 0,00025 29 0,00025 30 0,00027 31 0,00029 32 0,00031 33 0,00034 34 0,00037 35 0,00040 36 0,00042 37 0,00044 38 0,00047 39 0,00051 40 0,00057 41 0,00062 42 0,00068 43 0,00074 44 0,00081 45 0,00089 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 0,00099 0,00110 0,00121 0,00133 0,00243 0,00269 0,00298 0,00327 0,00359 0,00395 0,00434 0,00478 0,00530 0,00585 0,00644 0,00709 0,00777 0,00852 0,00936 0,01030 0,01138 0,01259 0,01395 0,01546 0,01694 0,01844 0,02010 66 67 68 69 70 71 72 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 0,02010 0,02204 0,02432 0,02684 0,02953 0,03229 0,03562 0,03984 0,04493 0,05072 0,05711 0,06419 0,07230 0,08179 0,09269 0,10497 0,11835 0,13221 0,14537 0,16073 0,17747 0,19568 0,21544 0,23682 0,25989 0,28471 0,31130 98 no noco 90 91 92 93 94 95 96 97 98 0,14537 0,16073 0,17747 0,19568 0,21544 0,23682 0,25989 0,28471 0,31130 0,33969 0,36985 0,40176 0,43531 0,47038 0,50680 1,00000 99 100 101 102 103 104 105 The death rate table for the cohort is attached below: FILE Death rate for Japanese female in 2019 Whole_life.xlsx - 2021-04-19 14:34:24 Calculate the appropriate premium for whole life insurance policy of one million yen, with: Discount rate of 3% Nobody will live to 106 No business expenses/profits for insurer yen (no 1,000 separators)Step by Step Solution
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