Use the SOA-LTAM Standard Ultimate Life Table and interest rate 5% for Questions 7 - 10. 8. Consider a five-year term insurance issued to a life aged 40 by a single premium, with sum insured $1 million payable immediately on death. (a) (2 points) Write down an expression for the net future loss random variable. (b) (2 points) Calculate the net single premium, assuming UDD. Use the SOA-LTAM Standard Ultimate Life Table and interest rate 5% for Questions 7 - 10. 8. Consider a five-year term insurance issued to a life aged 40 by a single premium, with sum insured $1 million payable immediately on death. (a) (2 points) Write down an expression for the net future loss random variable. (b) (2 points) Calculate the net single premium, assuming UDD